Avantor 6.25% convertible preferreds to convert into shares on May 16

By Wendy Van Sickle

Columbus, Ohio, May 13 – Avantor Inc. said its 6.25% series A mandatory convertible preferred stock will automatically convert into shares of the company’s common stock on May 16, according to a news release.

The conversion rate will be 3.0395 shares of common stock for each preferred share. Cash will be paid in lieu of fractional shares.

Holders of record at the close of business on May 1 will separately receive a final quarterly cash dividend of $0.78 per share on the preferreds, payable on the conversion date.

Avantor is a Radnor, Pa.-based manufacturer and marketer of materials for the life sciences, pharmaceutical, biomaterial and research/diagnostic markets.

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