Bausch + Lomb Second On Bausch Health IPO Card
Lumify, Ocuvite, PreserVision Drive Consumer Products 8% Q3 Sales Growth To $379M
Canadian firm plans to separate Solta first, with an IPO in December or January, and at least 30 days later offer shares in Bausch + Lomb. Order of IPOs could change, though.
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Bausch Health shopped Bausch + Lomb IPO at share price between $21 and $24. In trading of nearly 14.4m shares on New York exchange, Bausch + Lomb’s share price stayed above opening $18.50 and reached $20.07 before closing at $20, up 11.11%.
Perrigo intends to use net proceeds from $500m private offering along with cash on hand and funds from previous credit facilities to finance acquisition of HRA Pharma. Bausch Health reduces debt by $200m as it prepares to target proceeds from planned Bausch + Lomb IPO also to paying down debt.
Cost increases initially spurred by supply chain disruptions by COVID-19 pandemic have been noted by businesses across consumer product industries since soon after novel coronavirus spread accelerated in early 2020. More recently, OTC drug, nutritional supplement and personal care product providers began noting inflation’s influence on costs.