Mirion Technologies prices $369.7 million stock offering

Mirion Technologies Inc. (NYSE: MIR) announced the pricing of an underwritten public offering of 17,309,846 shares of Class A common stock at $21.35 per share. The offering was increased from the previously announced $350 million worth of shares.

The company granted underwriters an option to purchase up to an additional 2,596,476 shares at the same price, less underwriting discounts and commissions. The offering is expected to close on September 30, 2025, subject to customary closing conditions.

Goldman Sachs & Co. LLC, Evercore ISI, Citigroup, Morgan Stanley, Baird and Truist Securities serve as joint book-running managers for the offering. CJS Securities and B. Riley Securities act as co-managers.

Mirion estimates net proceeds of approximately $356.2 million after deducting underwriting discounts and estimated offering expenses. The company plans to use proceeds, along with funds 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.

Separately, Mirion announced pricing of $325 million aggregate principal amount of Convertible Senior Notes due 2031, increased from the previously announced $250 million. The convertible notes offering is expected to close the same day as the stock offering. The completion of each offering is not contingent on the other.

The stock offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission on November 17, 2022, and declared effective on November 28, 2022.

The Atlanta-based company operates in radiation safety, science and medicine across nuclear and medical markets, employing approximately 2,800 people in 12 countries.

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