News

DURHAM, NC—July 26, 2016 (BUSINESS WIRE)--Patheon N.V. ("Patheon" or the "company") (NYSE: “PTHN”) today announced the closing of its previously announced initial public offering of 34,226,191 of its ordinary shares at a public offering price of $21.00 per share, including 4,761,905 ordinary shares sold by the selling stockholder identified in the prospectus and 4,464,286 ordinary shares sold pursuant to the option granted to the underwriters to purchase additional ordinary shares from the company. Including proceeds from the sale of these additional shares, the company received total net proceeds of approximately $584.7 million from the offering, after deducting the underwriting discount, but before deducting estimated offering expenses.

The company intends to use the net proceeds it received from the offering and cash on hand to repay all of its outstanding $550 million of Senior PIK Toggle Notes, pay related fees and expenses and accrued interest. Patheon did not receive any proceeds from the sale of ordinary shares by the selling stockholder.

J. P. Morgan, Morgan Stanley, Jefferies and UBS Investment Bank acted as lead book-running managers and representatives of the underwriters for the offering. Credit Suisse, Evercore ISI and Wells Fargo Securities acted as joint book-running managers for the offering. Baird, Piper Jaffray, Raymond James, William Blair, KeyBanc Capital Markets and Leerink Partners acted as co-managers for the offering.

The offering was made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained from:

J. P. Morgan Securities LLC

Morgan Stanley & Co. LLC
c/o Broadridge Financial Solutions
180 Varick Street, Second Floor
1155 Long Island Avenue
New York, New York 10014
Edgewood, New York 11717
Attn: Prospectus Department
Attn: Prospectus Group
Telephone: (866) 803-9204

Jefferies LLC

UBS Securities LLC
520 Madison Avenue, 2nd Floor
1285 Avenue of the Americas
New York, New York 10022
New York, New York 10019
Attn: Equity Syndicate Prospectus Department
Attn: Prospectus Department
Email: Prospectus_Department@Jefferies.com
Telephone: (888) 827-7275
Telephone: (877) 547-6340

A registration statement relating to these securities was declared effective with the U.S. Securities and Exchange Commission ("SEC") on June 20, 2016. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The statements in this press release that are not historical facts may be forward-looking statements. Such forward looking statements, based upon the current beliefs and expectations of Patheon's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results. For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the "Risk Factors" section of the prospectus included in the registration statement, in the form last filed with the SEC. Patheon does not assume any obligation to update the information contained in this press release.