Franklin Lakes, N.J.-based BD’s $1.5 billion common stock offering has a par value of $1 per share at a public offering price of $2540 per share. With the $1.5 billion depositary share offering, each represents a 1/20th interest in a share of 6% mandatory convertible preferred stock at a public offering price of $50 per share.
BD also granted underwriters an option to purchase up to an additional $225 million in common stock and an additional $225 million in depositary shares, each at the public offering price, according to a news release.
The company plans to use proceeds earned from the offerings for general corporate purposes, including funding growth, working capital and repayment of outstanding indebtedness. BD expects the offerings to close on or about May 26.