Multi Packaging Solutions International Limited (“MPS”) today announced the pricing of its initial public offering of 16,500,000 common shares at $13.00 per share. The shares are expected to begin trading on Thursday, October 22, 2015 on the New York Stock Exchange under the ticker symbol “MPSX,” and the offering is expected to close on October 27, 2015, subject to customary closing conditions. MPS is selling 15,500,000 shares and certain selling shareholders, primarily employees and former employees (the “Employee Selling Shareholders”), are selling approximately 1,000,000 shares in order to meet certain tax obligations and other expenses incurred in connection with the offering. Certain affiliates of The Carlyle Group and of Madison Dearborn Partners (together with the Employee Selling Shareholders, the “Selling Shareholders”) have also granted the underwriters a 30-day option to purchase up to an additional 2,475,000 common shares. MPS will not receive proceeds from the sale of shares by the Selling Shareholders, including from any exercise by the underwriters of their option to purchase additional common shares.
MPS estimates the proceeds to it from this offering will be approximately $201 million, before deducting assumed underwriting discounts and commissions and other estimated offering expenses payable by it. MPS intends to use the net proceeds from this offering, together with $7.5 million of cash on hand, to repay a portion of its term loans and to pay related premiums, accrued and unpaid interest.
BofA Merrill Lynch, Barclays and Citigroup are lead book-running managers for the offering. Credit Suisse, Goldman, Sachs & Co. and UBS Investment Bank are also serving as book-running managers for the offering. Baird and BMO Capital Markets are acting as co-managers.
A registration statement relating to these securities has been filed with, and declared effective on October 21, 2015 by, the U.S. Securities and Exchange Commission (“SEC”). The offering of these securities is being made only by means of a written prospectus forming part of the effective registration statement. A copy of the final prospectus related to the offering will be filed with the SEC, which may be obtained, when available, from Merrill Lynch, Pierce, Fenner & Smith Incorporated via telephone at 866-500-5408 or email at email@example.com; Barclays Capital Inc. via telephone at 888-603-5847, email at Barclaysprospectus@broadridge.com or mail at Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717; and Citigroup, Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or via telephone at 800-831-9146.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Multi Packaging Solutions
MPS is a leading global provider of value-added packaging solutions to a diverse customer base across the healthcare, consumer and multi-media markets. MPS provides its customers with an extensive array of print-based specialty packaging solutions, including premium folding cartons, inserts, labels and rigid packaging across a variety of substrates and finishes. MPS has 59 manufacturing locations across North America, Europe and Asia and employs approximately 8,900 people.
Cautionary Statement Concerning Forward-Looking Statements
This release contains certain forward-looking statements regarding MPS and its subsidiaries and the initial public offering of MPS’ common shares. All of these statements are based on management’s expectations as well as estimates and assumptions prepared by management that, although they believe to be reasonable, are inherently uncertain. These statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of MPS’ control that may cause its business, industry, strategy, financing activities or actual results to differ materially. MPS undertakes no obligation to update or revise any of the forward looking statements contained herein, whether as a result of new information, future events or otherwise.
Multi Packaging Solutions
Bill Hogan, 646-885-0005
Chief Financial Officer