Bausch + Lomb Prices IPO Of 35 Mln Shares At $18.00/shr

(RTTNews) - Bausch + Lomb Corp., a wholly owned subsidiary of Bausch Health Companies Inc. (BHC, BHC.TO), announced the pricing of its initial public offering of 35 mln common shares at a public offering price of $18.00 per share.

A wholly owned subsidiary of Bausch Health is offering all of the common shares, and Bausch + Lomb will not receive any of the proceeds from the IPO, Bausch + Lomb said in a statement.

The selling shareholder has granted the underwriters a 30-day option to purchase up to an additional 5.25 million common shares of Bausch + Lomb to cover over-allotments, if any, at the initial public offering price, less underwriting commissions.

The common shares have been approved for listing on the New York Stock Exchange or "NYSE" and conditionally approved for listing on the Toronto Stock Exchange or "TSX". The common shares are expected to begin trading on the NYSE and the TSX on May 6, 2022, in each case under the ticker symbol "BLCO." The offering is expected to close on May 10, 2022.

Following the IPO, Bausch Health, together with its subsidiaries, will hold approximately 90% of the common shares of Bausch + Lomb, or 88.5% of the common shares of Bausch + Lomb if the underwriters' over-allotment option is exercised in full.