QuidelOrtho Corporation announced the pricing of an underwritten secondary offering by Carlyle Partners VI Cayman Holdings, L.P., involving 8,260,183 shares of the company's common stock. The offering is expected to close on November 21, 2024, subject to customary closing conditions.
The Selling Stockholder, Carlyle, will receive all proceeds from this offering, with QuidelOrtho not selling any shares or receiving any proceeds. Following the completion of this offering, Carlyle will no longer beneficially own any significant shares of QuidelOrtho's common stock.
As a result of Carlyle's exit, the Principal Stockholders Agreement with the Selling Stockholder will terminate, and Carlyle will no longer have the right to nominate members to QuidelOrtho's Board of Directors. This event marks a significant change in the company's ownership structure and corporate governance.
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