Thermo Fisher Completes $2.53 Billion Common Stock Offering

Thermo Fisher Completes $2.53 Billion Common Stock Offering


A team of WilmerHale transactional lawyers represented Thermo Fisher Scientific Inc. in its recently completed $2.53 billion underwritten public offering of its common stock made in connection with the forward sale agreements described below. J.P. Morgan and Barclays acted as joint book-running managers and as representatives of the underwriters for the offering. BofA Merrill Lynch acted as book-running manager for the offering. Thermo Fisher intends to use the proceeds from the settlement of the forward sale agreements to fund a portion of its recent acquisition of Life Technologies Corporation.

The forward sale agreements, entered into with affiliates and forward counterparties of J.P. Morgan and Barclays borrowed stock from third parties for sale in the offering. This enabled Thermo Fisher to raise equity based on its current stock price, but delay dilution of current stock owners' holdings and earnings per share until they settle the forward sale agreements.

To learn more about the deal, read Thermo Fisher’s press release.

The WilmerHale team representing Thermo Fisher includes Partners David Redlick and Erika Robinson; Senior Associates Todd Anderman and Jared DeMatteis; Associates Jordan Schwartz and Kevin Bale, with Partner Julie Hogan Rodgers on tax matters. The derivatives team included Partners Jeannette Boot and Dino Wu; and Associate Ellie Guadiana.