Clarivate Plc Stock Price, News & Analysis

Clarivate announced the expiration of two private exchange offers for outstanding notes as of August 13, 2021. The offers, which affected the 3.875% Senior Secured Notes due 2028 and 4.875% Senior Notes due 2029, allowed for the exchange of old notes for new notes with an extended redemption date to April 29, 2022. A principal amount of $920,897,000 for the 3.875% notes and $920,349,000 for the 4.875% notes is expected to be accepted. The settlement date is anticipated on August 19, 2021, with no cash proceeds to Clarivate from the exchange.

Clarivate Plc (NYSE: CLVT) has announced an exchange offer for two series of its outstanding notes, totaling $2 billion, as part of its ongoing acquisition of ProQuest. The exchange is in response to a second request for documents from the FTC, extending the acquisition completion date to December 31, 2021. If the acquisition is not finalized by this date, the company may redeem the old notes. The new notes will mirror the old ones, with terms extending up to April 29, 2022, and will mature shortly after the old notes. The exchange offers are set to expire on August 13, 2021.

Clarivate Plc (NYSE:CLVT) has acquired Bioinfogate, a provider of analytics solutions in life sciences, including the OFF-X™ portal. The OFF-X portal is a significant resource, containing over 1.2 million safety alerts related to 23,000 drugs and biologics. This acquisition aims to enhance drug toxicity data integration across the life science cycle, allowing for improved decision-making in drug development. Although financial terms were not disclosed, the acquisition is expected to strengthen Clarivate's offerings, particularly in translational safety intelligence.

Clarivate Plc (NYSE: CLVT; CLVT PR A) announced a $250 million share repurchase program to be executed through October 31, 2021. The Board of Directors expressed confidence in the company's growth prospects and stated that this buyback represents an attractive investment opportunity. The purchases will be funded with existing cash balances, reflecting strong earnings and cash flow, as noted by Executive Chairman and CEO Jerre Stead.

Clarivate reported strong Q2 2021 results, with revenues of $445.6 million, a 62.9% increase year-over-year. Adjusted EBITDA reached $189.0 million (up 88.8%). Despite a net loss of $82.2 million, adjusted net income was $110.0 million, a 58.3% rise. The company saw organic revenue growth of 5% at constant currency. Cash flow from operations increased to $261.7 million. Looking ahead, Clarivate expects organic revenue growth for 2021 to be at the upper end of 6% to 8%.

Clarivate Plc (NYSE: CLVT) has launched the Cortellis Supply Chain Network™, aimed at enhancing supply chain efficiency in the biopharma sector. This platform connects over 70,000 buyers and sellers, facilitating better identification of partners and management of procurement processes. The initiative addresses vulnerabilities exposed by the COVID-19 pandemic, which highlighted the need for greater supply chain transparency. By providing continuously updated manufacturing data and insights on supply risks, the network aims to ensure more accessible therapies for patients.

Clarivate Plc (NYSE:CLVT; CLVT PR A) declared a quarterly dividend of approximately $1.12 per share on its 5.25% Series A Mandatory Convertible Preferred Shares. This dividend is payable on September 1, 2021, to shareholders of record by August 15, 2021. The payment will be made in ordinary shares rather than cash, as per the governing Statement of Rights. The number of shares delivered will be based on the average volume-weighted price over the five trading days ending before the payment date.

On July 14, 2021, the Society for Information Display (SID) announced a significant increase in the Impact Factor (IF) of its flagship publication, the Journal of the Society for Information Display (JSID), now at 2.140. This improvement reflects the journal's enhanced standing in the field, recognized through data compiled from Clarivate's Web of Science. This data supports scholarly evaluation and promotes quality academic publishing. JSID editor Jiun-Haw Lee emphasized the journal's prestige, highlighting contributions from renowned figures in the display industry.

On July 14, 2021, Clarivate Plc (NYSE:CLVT) announced the integration of its CompuMark™ trademark research and protection solutions into IPfolio™ and FoundationIP™. This move aims to streamline intellectual property (IP) management, enhancing data quality and reducing manual entry efforts. With global coverage of over 180 trademark authorities, the integration allows corporate IP departments and law firms to manage portfolios more efficiently. The strategy is designed to empower customers, fostering informed decision-making and operational excellence in IP management.