Avantor Stock Price, News & Analysis

Avantor, Inc. (NYSE: AVTR) has launched a new biorepository and sample archiving facility in Frankfurt, Germany, enhancing access to samples within 24 hours for researchers. This facility is crucial for the growing demand for clinical trials, especially during the COVID-19 pandemic. Avantor boasts a 40-year heritage in biorepository services, having stored over 100 million research assets without failure. The facility has earned DGNB 'Gold' certification for sustainable construction, underscoring Avantor's commitment to ecological and economic responsibility.

Avantor, a leading global provider of mission-critical products, will participate in the Jefferies Virtual London Healthcare Conference on November 18, 2020. Michael Stubblefield, President and CEO of Avantor, is scheduled to speak at approximately 11:25 a.m. Eastern Time. Investors and attendees can access a live webcast through Avantor's investor relations website, with a replay available until November 30, 2020. Avantor serves over 225,000 customer locations globally, supporting vital research across various industries.

Avantor (NYSE: AVTR) has partnered with G-CON Manufacturing to provide mobile lab units, known as LabPODs, aimed at expediting diagnostic testing, particularly for COVID-19. These mobile labs will allow for quicker on-site testing, reducing wait times for results and potentially slowing infection rates. Avantor will supply the necessary equipment and expertise for these labs, enhancing diagnostic capabilities not only for COVID-19 but also for other microbial and analytical evaluations. This collaboration represents a significant step in transforming the accessibility of critical testing services.

Avantor, a global provider of mission-critical products and services, announced the pricing of a secondary offering of 71,569,765 shares of its common stock at $25.25 per share. This offering, conducted by certain stockholders including New Mountain Capital, reflects an increase from the initially proposed 71,339,001 shares. The underwriters have a 30-day option to purchase up to an additional 7,156,975 shares. The offering is expected to close on November 10, 2020.

Avantor, Inc. (NYSE: AVTR) announced an underwritten secondary offering of 71,339,001 shares of common stock by certain stockholders, including an affiliate of New Mountain Capital, LLC. The underwriters, Goldman Sachs & Co. LLC and J.P. Morgan, may also purchase an additional 7,133,898 shares within 30 days. Avantor will not receive any proceeds from this offering, which has been registered with the SEC.

Prospective investors can obtain the necessary prospectus from the underwriters. This press release does not constitute an offer or solicitation for the shares.

Avantor executives participated in the Cell & Gene Therapy Bioprocessing & Commercialization Conference, discussing essential topics like process efficiency and scalability within the biopharmaceutical sector.

Dr. Ger Brophy highlighted the need for operational efficiency and automation to enhance accessibility to cell and gene therapies. Claudia Berrón emphasized collaboration among industry leaders to navigate challenges posed by COVID-19, focusing on supply chain disruptions and clinical trial delays. Avantor aims to support the development of novel treatments by partnering with leading pharmaceutical companies.

Avantor announced the pricing of €650 million of 2.625% Senior First Lien Notes due November 2025, up from a previously announced €550 million. The offering closes on November 6, 2020. The Notes are guaranteed by Vail Holdco Sub LLC and its subsidiaries, secured by tangible and intangible assets. Proceeds will redeem existing 6.000% and 4.750% Senior First Lien Notes due 2024. The offering is made under exemptions of the Securities Act, available only to qualified institutional buyers.

Avantor, a global provider of critical products and services in life sciences, announced the initiation of a private offering of euro-denominated senior first lien notes. These notes will be issued by its subsidiary, Avantor Funding, Inc., and guaranteed by its parent company and subsidiaries. The proceeds will be utilized to redeem existing senior notes due in 2024 and cover related expenses. The offering relies on exemptions from registration under the Securities Act, aimed at qualified institutional buyers. Avantor emphasizes its significant role within multiple industries and its extensive global reach.

Avantor, Inc. (AVTR) reported third-quarter 2020 net sales of $1.605 billion, up 6.7% year-over-year, with organic growth of 5.4%. However, the company faced a net loss of $42.2 million due to a $226.4 million debt extinguishment. Adjusted EBITDA increased 14% to $285.6 million, with a margin expansion of 112 basis points. Year-to-date cash flow from operations reached $623.8 million, a 134% rise. The conference call is scheduled for October 28, 2020, to discuss these results further.