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Danaher's Envista Prices IPO Of 26.77 Mln Shares At $22.00/shr

Envista Holdings Corp., a subsidiary of Danaher Corp. (DHR), said that it has priced its initial public offering of 26.77 million shares at $22.00 per share.

The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "NVST."

It is expected that the gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses, will be $588.90 million, excluding any exercise of the underwriters' option to purchase additional shares.

The offering is expected to close on September 20, 2019,

Envista has granted the underwriters a 30-day option to purchase up to 4.02 million additional shares of common stock at the initial price to the public, less underwriting discounts and commissions.

Danaher is expected to hold about 82.7% of Envista or 80.6% if the underwriters' overallotment option is exercised in full, following the IPO.

Envista expects that the net proceeds from the IPO will be paid to Danaher as partial consideration for the dental businesses that Danaher is transferring to Envista in connection with the IPO.

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