Mirion Technologies announces $350M public stock offering

Mirion Technologies Inc. (NYSE: MIR) announced an underwritten public offering of $350 million of Class A common stock. The company also granted underwriters a 30-day option to purchase up to an additional $50 million of shares at the public offering price, less underwriting discounts and commissions.

Goldman Sachs & Co. LLC, Evercore ISI, Citigroup and Morgan Stanley are serving as joint book-running managers for the offering.

Mirion plans to use net proceeds from the stock offering, along with proceeds from a concurrent convertible notes offering, to pay for capped call transactions and fund its planned acquisition of WCI-Gigawatt Intermediate Holdco, LLC, the indirect parent of Paragon Energy Solutions, LLC. Any remaining proceeds will be used for general corporate purposes.

The company simultaneously announced a separate offering of $250 million in Convertible Senior Notes due 2031 to qualified institutional buyers. Initial purchasers have an option to purchase up to an additional $37.5 million in notes within 13 days of issuance. The completion of each offering is not contingent on the other.

The stock offering will be conducted under a shelf registration statement filed with the Securities and Exchange Commission on November 17, 2022, and declared effective on November 28, 2022.

Both offerings are subject to market and other conditions, with no assurance regarding completion, timing, or final terms.

Mirion is a radiation safety, science and medicine company headquartered in Atlanta that employs approximately 2,800 people across 12 countries.

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