Maravai LifeSciences, which provides genetic products and testing services for drug development and research, raised $1.6 billion by offering 60 million shares at $27, the high end of the $24 to $27 range.
As a supplier of oligonucleotides and products used to stabilize mRNA, Maravai stands to benefit from mRNA in vaccines and cell therapies, which include some promising COVID-19 vaccine candidates.
Maravai LifeSciences plans to list on the Nasdaq under the symbol MRVI. Morgan Stanley, Jefferies, Goldman Sachs, BofA Securities, Credit Suisse, UBS Investment Bank, Baird, William Blair, Stifel and KeyBanc Capital Markets acted as lead managers on the deal.
