Sotera Health, a lab testing and advisory services provider, has filed Amendment No 2 to Form S-1 Registration Statement on November 12, 2020 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $1 billion by offering 46.6 million shares at the price range of $20 to $23. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $6 billion.
The company provides end-to-end sterilization as well as microbiological and analytical lab testing and advisory services to help ensure that medical, pharmaceutical and food products are safe for healthcare practitioners, patients and consumers.
The Broadview Heights, Ohio based company was founded in 1946 and booked $790 million in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq Global Select Market under the symbol “SHC.” J.P. Morgan, Credit Suisse, Goldman Sachs, Jefferies, Barclays, Citi and RBC Capital Markets are underwriters of the IPO.
The company engages Cleary Gottlieb Steen & Hamilton LLP as US Securities Counsel, and Ernst & Young LLP as Independent Auditor.
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