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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sat., Sep. 19, 7:24 AM

Slide #7. Syneos Health, Inc. Secondary Offering

Company: Syneos Health, Inc. (NASDAQ:SYNH)
Date announced: 9/15/2020
Shares Offered: 7,000,000
Date of Pricing: 9/16/2020
Price Per Share: $59.75
Secondary Offering Details: Syneos Health, Inc. (Nasdaq: SYNH) (the "Company" or "Syneos Health"), the only fully integrated biopharmaceutical solutions organization combining a CRO (Contract Research Organization) and a CCO (Contract Commercial Organization), today announced it commenced an underwritten secondary offering by affiliates of Thomas H. Lee Partners, L.P. and Advent International Corporation of 7,000,000 shares of the Company's common stock (the "Offering") pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission ("SEC"). Syneos Health is not selling any shares and will not receive any proceeds from the sale of the shares by the selling stockholders in the Offering. The Company has agreed to repurchase from the underwriters approximately $30 million in aggregate of the shares of common stock being sold by the selling stockholders at a per-share purchase price equal to the price payable by the underwriters to the selling stockholders. -updated 9/16- Syneos Health, Inc. (Nasdaq: SYNH) (the "Company" or "Syneos Health"), the only fully integrated biopharmaceutical solutions organization combining a CRO (Contract Research Organization) and a CCO (Contract Commercial Organization), today announced the pricing of the previously announced underwritten secondary offering by affiliates of Thomas H. Lee Partners, L.P. and Advent International Corporation of an aggregate of 7,000,000 shares of the Company's common stock (the "Offering") at a price to the public of $59.75 per share. Syneos Health is not selling and will not receive any proceeds from the proposed sale of the shares by the selling stockholders in this Offering. The Offering is expected to close on September 17, 2020, subject to customary closing conditions. The Company has agreed to repurchase from the underwriters approximately $30 million in aggregate of the shares of common stock being sold by the selling stockholders at a per-share purchase price equal to the price payable by the underwriters to the selling stockholders.

Syneos Health is a holding company. Through its subsidiaries, Co. is a biopharmaceutical solutions organization providing a suite of clinical and commercial services to customers in the biopharmaceutical, biotechnology, and medical device industries. Co. has two reportable segments: Clinical Solutions, which provides a variety of clinical development services spanning Phase I to Phase IV, including global studies, unbundled service offerings, and Real World Evidence studies; and Commercial Solutions, which provides customers with a range of commercialization services, including field teams and medication adherence services, communications solutions, and consulting services.

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Company Name: 
Syneos Health Inc
Website: 
www.incresearch.com
Sector: 
Biotechnology
Number of ETFs Holding SYNH: 
60
Total Market Value Held by ETFs: 
$675.52M
Total Market Capitalization: 
$5.76B
% of Market Cap. Held by ETFs: 
11.72%
 

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Strong Buy (3.56 out of 4)
66th percentile
(ranked higher than approx. 66% of all stocks covered)
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