Envista Holdings, the dental supplies and equipment unit being carved out of Danaher, announced terms for its IPO on Wednesday.
The Brea, CA-based company plans to raise $602 million by offering 26.8 million shares at a price range of $21 to $24. At the midpoint of the proposed range, Envista Holdings would command a market value of $3.5 billion.
Envista Holdings traces its roots to 2004 and booked $2.8 billion in sales for the 12 months ended June 30, 2019. It plans to list on the NYSE under the symbol NVST. J.P. Morgan, Goldman Sachs, Morgan Stanley, Baird, Evercore ISI and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of September 16, 2019.
