Avista and Teachers’ to close secondary sale of INC Research shares

December 02
17:16 2015

INC Research Holdings, Inc., a leading global Phase I to Phase IV contract research organization, announced that Avista Capital Partners, L.P. and Ontario Teachers’ Pension Plan intend to offer for sale 6 million shares of the company’s Class A common stock in an underwritten secondary offering.

In addition, INC Research has entered into an agreement with Avista and Ontario Teachers to repurchase approximately 3 million shares of common stock in a private transaction.

As a result of the underwritten offering, the selling stockholders will own less than 50% of the total voting power of INC Research, and INC Research will cease to be a “controlled company” under NASDAQ rules.

Press release.

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