Medpace Holdings Inc. said its secondary offering of 4 million common shares is priced at $31.50 apiece.
The shares are being offered by investment funds affiliated with Cinven Capital Management (V) General Partner Ltd., which granted underwriters a 30-day option to buy up to an additional 600,000 common shares.
Medpace will not receive any proceeds from the offering, which is expected to close by Dec. 5, subject to customary closing conditions.
Additionally, the company said it will repurchase 2 million shares from the selling shareholder using $60.3 million of borrowings under its senior secured revolving credit facility.
Jefferies LLC and Credit Suisse Securities (USA) LLC are acting as book runners for the offering, with Morgan Stanley and UBS Securities LLC as co-managers.
