- Medpace Holdings (NASDAQ:MEDP) announces terms for its IPO.
- The company will offer 7M shares in a range of $20 to $23. Medpace will raise $150.50M in its offering at the mid-point of the range.
- On growth: "Our strong organic growth has been the result of consistently reinvesting our positive cash flow to support our therapeutic capabilities, service offerings and global expansion."
- On CRO market trends: "We estimate that biopharmaceutical development expenditures will grow from approximately $100 billion in 2014 to approximately $114 billion in 2019, representing a CAGR of approximately 3%."
- On financial performance: "For the Successor year ended December 31, 2015, we generated total net service revenue of $320.1 million and Adjusted EBITDA of $101.2 million, representing net service revenue and Adjusted EBITDA compound annual growth rates, or CAGRs, of 21.7% and 26.2%, respectively, since 2012. Our net (loss) income for the Successor year ended December 31, 2015."
- SEC Form S-1