Dun & Bradstreet, the Short Hills-based data and analytics company, released the details of its initial public offering, which it estimates could be worth as much as $1.38 billion.
D&B, which had been publicly traded before going private in 2018, said in a news release that it will offer 65.75 million shares of stock at an anticipated price of $19 to $21 per share, or approximately $1.25 billion to $1.38 billion overall. (Underwriters will have an option to purchase an additional 9.9 million shares.)
The company’s previous filing with the Securities & Exchange Commission had listed a possible value of $1 billion for the offering.
D&B said three major investors, a subsidiary of Cannae, a subsidiary of Black Knight Inc. and a subsidiary of CC Capital Partners LLC, intend to invest $200 million, $100 million and $100 million, respectively.
D&B added that it intends to use proceeds from the offering to redeem its outstanding preferred stock, to repay debt and for working capital and other general purposes.
The company would be listed on the New York Stock Exchange under the “DNB” symbol.
Goldman Sachs & Co. LLC, BofA Securities, JPMorgan and Barclays are acting as joint lead book running managers and representatives of the underwriters for the IPO, D&B said. Citigroup, Credit Suisse, HSBC, Jefferies, RBC Capital Markets, Wells Fargo Securities, Deutsche Bank Securities, BMO Capital Markets, SunTrust Robinson Humphrey and TD Securities are also acting as book-running managers, while William Blair, Raymond James, Stephens Inc., Academy Securities and Loop Capital Markets are acting as co-managers.
