Elanco Launches Public Offering Of 54.50 Mln Shares Held By Bayer Affiliate

(RTTNews) - Elanco Animal Health Inc. (ELAN) on Monday announced the launch of a public offering of 54.50 million shares of its common stock held by Bayer World Investments B.V, an affiliate of Bayer AG (BAYZF.PK, BAYRY.PK, BYR.L).

The company noted that Bayer World Investments B.V. will be the sole selling shareholder and will grant to the underwriters an option to purchase up to an additional 8.175 million shares of common stock.

However, Elanco will not issue shares in the offering and will not receive any proceeds from the sale of the shares by the selling shareholder.

Bayer World Investments B.V. received about 72.9 million shares of Elanco common stock in connection with the completion of Elanco's acquisition of the Bayer animal health business on August 1, 2020.