Evansville, Ind., Feb. 17 - Mead Johnson Nutrition Company today said that it has closed its previously announced initial public offering of 30 million shares of Class A common stock at the public offering price of $24 per share.
Further, the underwriters of the offering have exercised their over-allotment option and purchased 4.5 million additional shares of Class A common stock.
Including the over-allotment, the Company sold 34.5 million shares in the offering for net proceeds of approximately $782 million, after deducting underwriting discounts, commissions and estimated offering expenses. The Company said that with this over-allotment, it will have 204.5 million shares of Class A and Class B common stock outstanding.
Citi, Morgan Stanley, Banc of America Securities LLC, Credit Suisse and J.P. Morgan acted as joint book-running managers for the offering.