Welcome to our dedicated page for Clarivate news (Ticker: CLVT), a resource for investors and traders seeking the latest updates and insights on Clarivate stock.
Clarivate Plc reports developments in data, analytics and workflow software for academia and government, intellectual property, and life sciences and healthcare. Its news commonly covers earnings, subscription and recurring revenue trends, cash flow and leverage actions, and progress under its operating improvement initiatives.
Company updates also focus on AI-enabled research and decision-support products, including Web of Science Research Intelligence, Nexus Connect, Cortellis Regulatory Intelligence, Derwent-based patent analytics and other Clarivate data assets. Recurring announcements address institutional research intelligence, academic library workflows, regulatory intelligence for life sciences teams, intellectual property benchmarks and investor conference appearances.
Clarivate Plc (NYSE: CLVT) announced a private offering of up to $1.0 billion in senior secured notes due 2028 and $1.0 billion in senior unsecured notes due 2029. The offering, subject to market conditions, aims to finance the purchase price for the pending acquisition of ProQuest, announced on May 17, 2021. The proceeds will be held in escrow until acquisition conditions are met, with redemption provisions if conditions are not satisfied by November 8, 2021. The notes will be secured prior to acquisition completion and will be guaranteed by subsidiaries post-acquisition.
Clarivate Plc (NYSE: CLVT) has priced concurrent offerings of 38,461,538 ordinary shares at $26.00 each and 12,500,000 5.25% Series A Mandatory Convertible preferred shares at $100 each. The offerings are expected to close on June 14, 2021. The company anticipates net proceeds of approximately $723.8 million from the ordinary shares and $1.208 billion from the preferred shares. The funds will primarily finance the pending acquisition of ProQuest, announced on May 17, 2021. The convertible preferred shares will convert into ordinary shares on June 1, 2024, if not redeemed earlier.
Clarivate Plc (NYSE: CLVT) announced on June 8, 2021, the proposed offerings of $750 million in ordinary shares and $1.25 billion in Series A Mandatory Convertible preferred shares. These offerings, which total $2 billion, aim to finance its pending acquisition of ProQuest. The completion of either offering is independent and subject to market conditions. If the acquisition does not proceed, proceeds will be used for general corporate purposes. The convertible preferred shares will convert into ordinary shares on June 1, 2024.
Clarivate Plc (NYSE:CLVT) has launched the COVID-19 Vaccine Availability and Medtech Impact Report, forecasting vaccination rates across countries in 2021. The report indicates that vaccine acceptance varies by region, with rates of 94% in Malaysia and 71% in the U.S. It highlights the importance of vaccination in recovering healthcare markets post-pandemic, particularly for Ambulatory Surgery Centers (ASCs) which showed higher utilization rates. The predictive analysis leverages real-world data to aid healthcare stakeholders in planning and decision-making.
Clarivate Plc (NYSE: CLVT) has announced a commercial partnership with Explore IP to integrate Derwent™ patent data into its platform. This collaboration aims to enhance the searchability of intellectual property data, enabling businesses and innovators to identify and understand patents held by Canadian public sector institutions. The partnership will facilitate licensing opportunities and foster innovation by providing access to authoritative patent information. This integration will support Canadian entrepreneurs and significantly improve the marketability of public sector technologies.
On May 26, 2021, Clarivate Plc (NYSE: CLVT) announced that its Executive Chairman and CEO, Jerre Stead, along with CFO Richard Hanks, will present at three upcoming virtual investor conferences in June 2021. The conferences include: William Blair's 41st Annual Growth Stock Conference on June 2 at 10:00 am CT, Baird's 2021 Global Consumer, Technology & Services Conference on June 8 at 12:15 pm ET, and Stifel's 2021 Virtual Cross Sector Insight Conference on June 10 at 8:00 am ET. Live webcasts will be available for each event.
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On May 18, 2021, Clarivate Plc (NYSE:CLVT) announced a strategic partnership with Alt Legal, Inc. to integrate CompuMark™ international trademark data into Alt Legal's platform. This collaboration aims to enhance Alt Legal's offerings by providing access to 186 trademark databases globally. The integration will allow users to receive updates on trademark filings, streamline workflows, and minimize human error. Alt Legal is responding to client demand for broader international capabilities, positioning itself as a leading docketing solution for global trademark management.
Clarivate (NYSE: CLVT) has agreed to acquire ProQuest for $5.3 billion, enhancing its position as a leading provider of research intelligence solutions. The deal includes $4 billion in cash and $1.3 billion in equity, with expected closing in Q3 2021. ProQuest serves over 25,000 institutions globally, and this acquisition will expand Clarivate’s data offerings significantly. Financially, the transaction is projected to be accretive to earnings, with anticipated cost synergies exceeding $100 million within 15-18 months, paired with substantial cash tax savings.
Clarivate Plc (NYSE: CLVT) will present at the Barclays Americas Select Franchise Conference on May 19, 2021, at 1:00 PM Eastern Time. The presentation will feature Executive Chairman and CEO Jerre Stead and CFO Richard Hanks. A live webcast will be available on the Investor Relations section of Clarivate's website, with a replay accessible for 30 days post-event. Clarivate is dedicated to accelerating innovation through actionable insights and solutions in science and intellectual property.