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Royalty Pharma Prices IPO At High End Of Range

Royalty Pharma plc announced the pricing of initial public offering of 77.68 million shares of Class A ordinary shares at $28 per share, the high end of the expected range of $25 to $28. The offering is expected to close on June 18, 2020.

The size of the IPO was increased from the previously announced 70 million Class A ordinary shares.

Royalty Pharma is offering 60 million Class A ordinary shares and the selling shareholders are offering 17.68 million Class A ordinary shares.

The company grants underwriters a 30-day option to purchase up to an additional 11.65 million Class A ordinary shares.

Royalty Pharma Class A ordinary shares are expected to begin trading on the Nasdaq Global Select Market on June 16, 2020 under the ticker symbol "RPRX."

J.P. Morgan, Morgan Stanley, BofA Securities, Goldman Sachs & Co. LLC, Citigroup and UBS Investment Bank are acting as joint lead book-running managers and as representatives of the underwriters for the offering.

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