Maravai LifeSciences Has Completed an Initial Public Offering
November 28, 2020
Maravai LifeSciences Holdings recently announced the closing of its $1.863 billion initial public offering (IPO), which priced on November 19, 2020. The Company’s IPO consisted of 69.0 million shares of common stock (including the over-allotment) sold at $27.00 per share, which was the top of the filing range of $24.00-$27.00. Proceeds will be used primarily to repurchase outstanding units with the balance used for debt repayment. The shares began trading on The Nasdaq Global Select Market under the symbol “MRVI” on November 20, 2020. Maravai is a portfolio company of GTCR. We served as a joint bookrunner on the transaction.
Maravai LifeSciences Holdings, Inc. is a leading life sciences company providing critical products to enable the development of drug therapies, diagnostics, novel vaccines and support research on human diseases. Their more than 5,000 customers as of September 30, 2020 include the top 20 global biopharmaceutical companies ranked by research and development expenditures according to industry consultants, and many other emerging biopharmaceutical and life sciences research companies, as well as leading academic research institutes and in vitro diagnostics companies. Maravai’s products address the key phases of biopharmaceutical development and include complex nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.
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