Sotera Health drops after $307 mln secondary offering

Sotera Health

04/09/2025 14:42

** Sotera Health's SHC.O shares down 3.8% at $15.37 early Thurs in wake of secondary offering

** Ohio-based sterilization and lab equipment testing services firm late Weds said private equity firms Warburg Pincus and GTCR parting ways with 20 mln shares

** Offering priced at $15.35, thefly.com reports, a 3.9% discount to stock's last sale on Weds

** Deal size equates to $307 mln

** Prior to the offering, Warburg owned 73.8 mln shares, or ~26% stake, and GTCR held 49.2 mln shares, or 17.33% of SHC's ~284 mln shares outstanding, per the prospectus filing

** Goldman Sachs sole underwriter for the offering

** With the move on the session, SHC shares up ~13% YTD including ~38% gain over the past month

** 4 of 7 analysts rate the stock "strong buy" or "buy", 3 rate "hold" and median PT is $17, LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))