April 28, 2022 — Bausch + Lomb has announced the launch of its initial public offering (IPO) and the start of the roadshow for the IPO.
 
According to the announcement, a wholly owned subsidiary of Bausch Health (the “selling shareholder”) is offering 35 million common shares of Bausch + Lomb. Additionally, the selling shareholder plans to grant the underwriters a 30-day option to purchase up to an additional 5.25 million common shares of Bausch + Lomb to cover over-allotments, if any.
 
Currently, the IPO price is expected to be between $21 and $24 per share. Bausch + Lomb has applied to list its common shares on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol "BLCO."
 
Bausch + Lomb will not receive any proceeds from the IPO, shares the corporation. Following the IPO, Bausch Health and its subsidiaries are expected to hold approximately 90% of Bausch + Lomb’s common shares, or 88.5% if the underwriters' over-allotment option is exercised in full.
 
Morgan Stanley and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the IPO. Citigroup, J.P. Morgan, Barclays, BofA Securities, Guggenheim Securities, Jefferies, Evercore ISI, Wells Fargo Securities, and Deutsche Bank Securities are acting as joint book-running managers for the IPO. DNB Markets, HSBC, Truist Securities, AmeriVet Securities, Loop Capital Markets, Ramirez & Co., Inc., R. Seelaus & Co., LLC, Siebert Williams Shank and Stern are acting as co-managers for the IPO.
 
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. A second amended and restated preliminary base PREP prospectus has been filed with the securities regulatory authorities in each of the provinces and territories of Canada (other than Quebec). It reportedly contains important information relating to the securities and remains subject to completion or amendment. The securities may not be sold, nor may offers to buy be accepted, before the registration statement becomes effective.