Medpace Holdings Inc. announced the pricing of a secondary offering of the company's shares.
Investment funds affiliated with Cinven Capital Management (V) General Partner Ltd., a shareholder of the company, are selling 3 million common shares of the Cincinnati-based contract research organization at $42.25 apiece.
The company will not receive any proceeds from the transaction.
Morgan Stanley is acting as the sole book runner in the offering, which is expected to close by June 14.
Cinven Ltd. held 13,399,997 shares of the company as of May 7, representing 35.85% of Medpace, according to S&P Capital IQ data. The shares had a market value of $582.9 million.
