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Latham Advises on Upsized Follow-On Offering of Stevanato Group

March 26, 2024
Capital markets team represents the banks in both Italian and US law matters.

Stevanato Group S.p.A. (NYSE: STVN), a leading global provider of drug containment, drug delivery, and diagnostic solutions to the pharmaceutical, biotechnology, and life sciences industries, completed its upsized underwritten public offering of an aggregate of 14,605,000 ordinary shares, which includes the full exercise of the underwriters’ greenshoe option of 1,905,000 additional ordinary shares, at an offering price of US$26.00 per share, offered by Stevanato Group S.p.A. and by its major shareholder Stevanato Holding S.r.l.

The total gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, were approximately US$379.7 million.

Morgan Stanley and William Blair acted as lead book-running managers and as representatives of the underwriters for the Offering. BofA Securities, Citigroup, and KeyBanc Capital Markets acted as joint book-running managers.

Latham & Watkins advised the underwriters on both Italian and US law matters, with a team led by partner Ryan Benedict, with partner Antonio Coletti, counsel Guido Bartolomei, capital markets lawyer Irene Pistotnik, and associates Jason Hyatt and Lorenzo Rovelli.