Ortho, and Qualtrics IPOs are hitting the market

January 28, 2021

Two companies, two different fields, two IPOs, one stock exchange - Nasdaq

Ortho Clinical Diagnostics

The New-Jersey based in vitro diagnostics company is ready to become a publicly-traded one later on today.

Having as underwriters some of the largest banks in the US, such as JP Morgan, Goldman Sachs, BofA Securities, Citigroup, just to name a few, Ortho will be available for trading on the Nasdaq Global Select Market under the symbol OCDX.

Through this IPO, Ortho is looking to use the net proceeds for general corporate purposes, for working capital, and to repay multiple borrowings made under its dollar term loan facility. The company made available for trading 76 million shares priced at $17 apiece, expecting the gross proceeds to reach $1,292 million.

Qualtrics

A former SAP America component, Qualtrics, is ready to go public for the second time in less than three years. By offering 50.4 million shares and having a price set at $29 per piece, Qualtrics expects to reach a market cap of almost $15 billion.

Some of the proceeds will go to SAP America to pay a $1.76 billion outstanding debt.

Having as underwriters JP Morgan, and Morgan Stanley, Qualtrics will be available for trading under the symbol XM on the Nasdaq.

Sources: investors.com, prnewswire.com, Bloomberg.com

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