Catalent (CTLT) Prices Common Share Offering for Gross Proceeds of Approx. $500M

Catalent, Inc. (“Catalent”) (NYSE: CTLT), the leading global provider of advanced delivery technologies, development, and manufacturing solutions for drugs, biologics, gene therapies, and consumer health products, today announced the pricing of an underwritten public offering (the “Offering”) of shares of its common stock, which is expected to result in gross proceeds of approximately $500 million, before deducting estimated offering expenses. The underwriters may offer the shares of common stock from time to time to purchasers directly or through agents, or through brokers in brokerage transactions on the New York Stock Exchange, in the over-the-counter market, or to dealers in negotiated transactions or in a combination of such methods of sale or otherwise at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. In connection with the Offering, Catalent has granted the underwriters an option for 30 days to purchase up to an additional $75 million of shares of its common stock. Subject to customary closing conditions, the Offering is expected to settle and close on or about February 6, 2020.

Catalent intends to use approximately $330 million of the net proceeds from the Offering to fund the purchase price for the acquisition of Masthercell Global Inc. (“MaSTherCell”) and to pay related fees and expenses. Catalent intends to use the remaining net proceeds, or, if the acquisition of MaSTherCell is not consummated, all of the net proceeds, from the Offering to repay approximately $100 million of outstanding borrowings under the revolving credit facility under its senior secured credit facilities and for general corporate purposes, which may include capital expenditures.

J.P. Morgan and UBS Investment Bank are acting as underwriters for the Offering.

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