Cryoport

Coming off a year in which they moved their headquarters to Middle Tennessee and spent nearly $380 million on two acquisitions, the leaders of cold-storage and logistics company Cryoport have filed papers to raise at least $200 million.

In a filing with regulators, Cryoport executives say they have given their underwriters at Morgan Stanley, Jefferies, SVB Leerink and UBS the option to add up to $30 million to their stock offering. Proceeds from the sales could be used to grow the company’s working capital and inventories, be invested in sales and marketing efforts, or go toward the building of new facilities around the world.

Investors greeted the news with a big thumbs up Wednesday: Shares of Brentwood-based Cryoport (Ticker: CYRX) rose more than 11 percent to $71.65. The stock has rallied from $46 since the beginning of the year and about $33 in mid-2020.

Cryoport last year acquired Paris-based CRYOPDP and MVE Biological Solutions to more than quadruple its revenue run rate. And while supporting COVID-19 vaccine trials and distribution is giving the company a boost, CEO Jerry Shelton and his team have said they aren’t losing sight of their core business of being the logistics backbone for companies testing, developing and marketing reproductive medicine, animal health and biopharma products.

This post originally appeared in our partner publication, the Nashville Post

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