Benzinga | Nov 11, 2021 06:34AM EST

Diversey Raises $225M Via Equity Offering

* Diversey Holdings Ltd (NASDAQ:DSEY) has priced the public follow-on offering of 15 million ordinary shares at $15.00 per share.

* The offer price represented a 0.8% discount to the company's closing price on November 10, 2021.

* The company also granted the underwriters a 30-day option to purchase up to an additional 2.3 million shares.

* Diversey intends to use the offering net proceeds for general corporate purposes, including capital expenditures and potential acquisitions.

* The offering is expected to close on November 15, 2021.

* Citigroup, Morgan Stanley, and J.P. Morgan are acting as lead book-running managers for the offering.

* Price Action: DSEY shares closed higher by 2.79% at $15.12 on Wednesday.