Simpson Thacher is representing Blackstone in a combination preferred and common equity investment in Cryoport, Inc. (“Cryoport”) in connection with Cryoport’s announced acquisition of MVE Biological Solutions (“MVE”) from Chart Industries, Inc. for approximately $320 million. Investment vehicles affiliated with Blackstone Tactical Opportunities agreed to purchase $250 million of Cryoport’s Series C Convertible Preferred Stock and $25 million of Cryoport’s Common Stock. The transactions are subject to customary closing conditions, including obtaining regulatory approvals, and are expected to close by the end of 2020.
Cryoport is a global leader in temperature-controlled supply chain solutions for the life sciences industry. MVE is a global leader in manufactured vacuum-insulated products and cryogenic freezer systems for the life sciences industry.
The Simpson Thacher team includes Anthony Vernace, Matthew Gabbard, Donovan Westbrook and Hadley Nagel (M&A); Jonathan Ozner (Capital Markets); Dan Webb (Palo Alto Capital Markets); Jonathan Goldstein and Eli Shalam (Tax); Peter Gilman, Matthew Leighton, Caitlin Lackner and Hongda Wang (Funds); Jonathan Lindabury, Jennifer Levitt and Caitlin Wood (Credit/Derivatives); Jeanne Annarumma (ERISA); Greg Grogan and Pasco Struhs (Executive Compensation & Employee Benefits); Peter Guryan, Kelly Karapetyan and Daniel Owsley (Antitrust); Lori Lesser and Bobbie Burrows (Intellectual Property); and Adeeb Fadil and Timothy Mulvihill (Environmental).