Phibro Animal Prices IPO At $15 A Share

(RTTNews) - Phibro Animal Health Corp (PAHC) Friday announced the pricing of its initial public offering of over 12.74 million shares of Class A Common Stock at a price to the public of $15.00 per share.

The shares are being offered by the company and a selling stockholder, Mayflower Ltd Partnership, whose sole limited partner is 3i Group plc ("3i Group").

The gross proceeds from the offering will be about $125 million for the company and about $66 million for 3i Group.

In addition, Mayflower has granted the underwriters a 30 day option to purchase up to an additional about 1.91 million shares of Class A Common Stock to cover over-allotments, if any.

The shares began trading on April 11 on The NASDAQ Global Market under the ticker symbol "PAHC."

The closing of the offering is expected to occur on April 16.

Phibro Animal Health is a diversified manufacturer of a range of animal health and mineral nutrition products for use in the production of poultry, swine, cattle, dairy and aquaculture.