Onex Partners and BPEA Complete Offering of Clarivate Shares All amounts in U.S. dollars unless otherwise stated
TORONTO and HONG KONG, Sept. 14, 2021 (GLOBE NEWSWIRE) -- Onex Corporation (“Onex”) (TSX: ONEX), Baring Private Equity Asia (“BPEA”) and their affiliated funds (together the “Group”), today announced they have sold 25 million ordinary shares of Clarivate plc (“Clarivate”) (NYSE: CLVT) at a price of $25.25 per share. In addition, the underwriters were granted a 30-day option to purchase up to 3.75 million ordinary shares from the Group. Clarivate is a global leader in providing trusted information and insights to accelerate the pace of innovation.
At the purchase price and before the underwriters’ option, net proceeds to the Group were approximately $630 million, of which Onex’ share was approximately $120 million as a Limited Partner in Onex Partners IV and as a co-investor. The Group will continue to hold approximately 59.5 million ordinary shares of Clarivate for an economic interest of 9%. Onex will continue to hold approximately 16.2 million ordinary shares for a 3% interest.
A registration statement on Form S-3 (including a prospectus) was filed with the Securities and Exchange Commission (“SEC”) on July 1, 2021 and has become effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Onex
Founded in 1984, Onex manages and invests capital on behalf of its shareholders, institutional investors and high net worth clients from around the world. Onex’ platforms include: Onex Partners, private equity funds focused on mid- to large-cap opportunities in North America and Western Europe; ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through tradeable, private and opportunistic credit strategies as well as actively managed public equity and public credit funds; and Gluskin Sheff’s wealth management services. In total, as of June 30, 2021, Onex has approximately $46 billion of assets under management, of which approximately $7.5 billion is its own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.
Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.