Catalent (NYSE:CTLT) said today that it launched a $400 million underwritten public offering of its common stock.
The Somerset, N.J.-based company plans to give underwriters a 30-day option to buy up to $60 million in additional shares of common stock.
Catalent, which has been on a buying spree in the last year, said it expects to use the offering’s net proceeds to repay a portion of its U.S. dollar-denominated term loans.
The company shelled out $950 million in cash last year to pick up Cook Pharmica, a contract manufacturer that develops biologics-based drug compounds.
More recently, Catalent inked a $139 million deal to acquire Juniper Pharmaceuticals (NSDQ:JNP) and its early-stage product development services.
The company explained that its Juniper acquisition complements Catalent’s formulation development offerings, bioavailability solutions and clinical-scale oral dose manufacturing capabilities.
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