Maravai LifeSciences Holdings’ $1.863 Billion Initial Public Offering

Davis Polk advised the representatives of the several underwriters in the offering. Kirkland advised GTCR and its portfolio company, Maravai LifeSciences Holdings on the deal.

Maravai LifeSciences Holdings, Inc. completed the initial public offering of 69,000,000 shares of its Class A common stock at $27.00 per share (which includes the exercise in full by the underwriters of their option to purchase up to 9,000,000 additional shares), for total gross proceeds of $1.863 billion. Maravai’s Class A common stock is listed on the Nasdaq Global Select Market under the symbol “MRVI.”

Maravai is a leading life sciences company providing critical products to enable the development of drug therapies, diagnostics, novel vaccines and support research on human diseases. Maravai’s products address the key phases of biopharmaceutical development and include complex nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species. Maravai LifeSciences is headquartered in San Diego, California.

The Davis Polk corporate team advising Morgan Stanley & Co. LLC, Jefferies LLC and Goldman Sachs & Co. LLC, as representatives of the several underwriters, included partner Alan F. Denenberg (Picture), counsel Jeffrey Gould and associates Jonathan Bye and Lawrence Edward Traylor Jr. Partner Michael Farber and associate Eitan Ulmer provided tax advice. Partner David R. Bauer and associate Tilak Koilvaram provided intellectual property advice. Counsel Marcie A. Goldstein provided FINRA advice. Associate Brantley Hawkins provided 1940 Act advice.

Kirkland advised GTCR and its portfolio company, Maravai LifeSciences Holdings, with a team led by capital markets partners Bob Hayward, Bob Goedert and Michael Keeley and associates Eileen Kelly, Katie White and Puja Narain, corporate partners Sandy Perl, Michael Weed and Daniel Guerin, and associates Jake Flood and Chris Grady, debt finance partners Jocelyn Hirsch, Tom Dobleman and Kyle Gillen and associate Emily Hogan, tax partners Polina Liberman, Gregory Gallagher and associate Mohsen Ghazi, and executive compensation partners Stephen Jacobson, Stephanie Jeane and associate David Branham.

Involved fees earner: David Bauer – Davis Polk & Wardwell; Jonathan Bye – Davis Polk & Wardwell; Alan Denenberg – Davis Polk & Wardwell; Michael Farber – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Jeffrey Gould – Davis Polk & Wardwell; Brantley Hawkins – Davis Polk & Wardwell; Tilak Koilvaram – Davis Polk & Wardwell; Lawrence Edward Traylor Jr. – Davis Polk & Wardwell; Eitan Ulmer – Davis Polk & Wardwell; David Branham – Kirkland & Ellis; Thomas Dobleman – Kirkland & Ellis; Jake Flood – Kirkland & Ellis; Gregory Gallagher – Kirkland & Ellis; Mohsen Ghazi – Kirkland & Ellis; Kyle Gillen – Kirkland & Ellis; Robert Goedert – Kirkland & Ellis; Christopher Grady – Kirkland & Ellis; Daniel Guerin – Kirkland & Ellis; Robert Hayward – Kirkland & Ellis; Jocelyn Hirsch – Kirkland & Ellis; Emily Hogan – Kirkland & Ellis; Stephen Jacobson – Kirkland & Ellis; Stephanie Jeane – Kirkland & Ellis; Michael Keeley – Kirkland & Ellis; Eileen Kelly – Kirkland & Ellis; Polina Liberman – Kirkland & Ellis; Puja Narain – Kirkland & Ellis; Sanford Perl – Kirkland & Ellis; Michael Weed – Kirkland & Ellis; Kathryn White – Kirkland & Ellis;

Law Firms: Davis Polk & Wardwell; Kirkland & Ellis;

Clients: Goldman Sachs; GTCR; Jefferies; Maravai LifeSciences; Morgan Stanley;

Author: Ambrogio Visconti