Clarivate Analytics’ $552 Million Secondary Share Offering

Winston & Strawn represented Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC in a secondary offering for Clarivate Analytics plc.

Clarivate Analytics, a global leader in providing trusted insights and analytics to accelerate the pace of innovation, announced the pricing of its previously announced underwritten secondary offering of 34.5 million ordinary shares by affiliated funds of Onex Corporation and Baring Private Equity Asia, together with certain other shareholders, at $16 per share.

The selling shareholders have granted the underwriters an option to purchase up to 5.175 million additional ordinary shares.

Clarivate Analytics will not receive any of the proceeds from the sale of its ordinary shares by the selling shareholders.

At the offering price and before the underwriters’ option, gross proceeds to the Group will be approximately $552 million, of which Onex’ share will be approximately $144 million as a Limited Partner in Onex Partners IV and as a co-investor.  Onex, BPEA and their affiliated funds will continue to hold approximately 183.0 million ordinary shares of Clarivate, making it the largest shareholder with an interest of 60%.  Onex will continue to hold approximately 49.8 million ordinary shares for a 16% interest.

The Winston team included Joel Rubinstein (Picture), David Sakowitz, Courtney Tygesson and Steven Franklin.

Involved fees earner: Steven Franklin – Winston & Strawn; Joel Rubinstein – Winston & Strawn; David Sakowitz – Winston & Strawn; Courtney Tygesson – Winston & Strawn;

Law Firms: Winston & Strawn;

Clients: Citigroup Global Markets Ltd; Goldman Sachs & Co.;

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Author: Ambrogio Visconti