Skip to main content

Diplomat to raise $200 million in stock offering


FLINT, Mich. — Diplomat Pharmacy announced Friday the filing of a registration statement with the Securities and Exchange Commission in connection with a proposed follow-on public offering of its common stock. Subject to market conditions, the offering could raise approximately $200 million. 


Diplomat expects to raise approximately $100 million of gross primary proceeds that will be used for working capital and other general corporate purposes, which may include debt repayment and/or future acquisitions. The selling shareholders and certain option holders, whose options will be repurchased by the company, will receive the remaining $100 million of gross proceeds expected to be raised in the offering. 


The company and selling shareholders intend to grant the underwriters a 30-day option to purchase additional shares of common stock.


Diplomat will not receive any proceeds from shares of common stock to be sold by the selling shareholders.


Credit Suisse Securities and Morgan Stanley are acting as lead book-running managers. Additional book-running managers are J.P. Morgan Securities and Wells Fargo Securities. William Blair & Company, Leerink Partners and Raymond James & Associates are acting as comanagers.


This ad will auto-close in 10 seconds