Talecris Biotherapeutics (TLCR) IPO Trades Higher

October 1, 2009 11:08 AM EDT

The IPO for Talecris Biotherapeutics Holdings Corp. (Nasdaq: TLCR) has opened for trading. Shares are trading at $20 after pricing 50,000,000 shares at $19.00 per share, the middle of the expected $18-$20 range.

Of the shares being offered, 28,947,368 are being offered by the Company and 21,052,632 are being offered by the selling stockholder, Talecris Holdings, LLC. Talecris Holdings, LLC is owned by Cerberus-Plasma Holdings, LLC, the managing member of which is Cerberus Partners, L.P., and limited partnerships affiliated with Ampersand Ventures.

Talecris intends to use the net proceeds of the offering to repay amounts owed under its First Lien Term Loan Credit Agreement and Second Lien Term Loan Credit Agreement. Talecris will not receive any of the proceeds from the offering of the common stock by the selling stockholder.

Morgan Stanley & Co. Incorporated, Goldman, Sachs & Co., Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. are acting as joint book-running managers for the offering.

Talecris Biotherapeutics is a global biotherapeutic and biotechnology company that discovers, develops and produces critical care treatments for people with life-threatening disorders in a variety of therapeutic areas including immunology, pulmonology and hemostasis.

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