PatheonPatheon NV has announced the pricing of the initial public offering of 29,761,905 of its ordinary shares at a public offering price of $21.00 per share. Patheon is selling 25,000,000 ordinary shares and the selling stockholder named in the prospectus is selling 4,761,905 ordinary shares. In addition, the company has granted the underwriters a 30 day option to purchase up to an additional 4,464,286 ordinary shares from the company.

The ordinary shares of the company are scheduled to begin trading on the  New York Stock Exchange on 21 July 2016 under the symbol “PTHN.”

The offering is expected to close on or about 26 July 2016, subject to customary closing conditions.

The company intends to use the net proceeds it receives from the offering and cash on hand to repay all of its outstanding $550 million of Senior PIK Toggle Notes, pay related fees and expenses and accrued interest. Patheon will not receive any proceeds from the sale of ordinary shares by the selling stockholder.

J.P. Morgan, Morgan Stanley, Jefferies and UBS Investment Bank are acting as lead book-running managers and representatives of the underwriters for the offering. Credit Suisse, Evercore ISI and Wells Fargo Securities are acting as joint book-running managers for the offering. Baird, Piper Jaffray, Raymond James, William Blair, KeyBanc Capital Markets and Leerink Partners are acting as co-managers for the offering.