Perrigo Closes Public Offering For Estimated Proceeds Of About $1 Bln.

(RTTNews) - Perrigo Co plc (PRGO), Wednesday announced the closing of its previously announced registered public offering relating to the sale of about 6.81 million ordinary shares at a public offering price of $152 per share, including the full exercise of the option to purchase up to an additional 888,157 ordinary shares by J.P. Morgan Securities LLC and Barclays Capital Inc., as representatives of the several underwriters.

Perrigo estimates that the total net proceeds of the offering will be about $1.0 billion, after deducting underwriting discounts and commissions and estimated offering expenses.

Perrigo intends to use the proceeds, together with the proceeds of other financing sources, to fund the cash consideration for its proposed acquisition of Omega Pharma Invest NV and to repay or refinance certain indebtedness of Perrigo and/or Omega.

If the Acquisition is not consummated, then the proceeds will be used for general corporate purposes.