Full Press Release Details
Media: Colleen Parr Dekker +1.317.989.7011 colleen_parr_dekker@elanco.com
Investor Relations: Tiffany Kanaga +1.302.897.0668 kanaga_tiffany@elanco.com
Elanco Announces Pricing of Public Offering
of Common Stock by Selling Shareholder
Ind. (November 30, 2020) - Elanco
Animal Health Incorporated (NYSE: ELAN) today announced the pricing of the previously announced public offering of 54,500,000 shares
of its common stock held by Bayer World Investments B.V, an affiliate of Bayer AG, at $30.25 per share. Bayer World Investments
B.V. is the sole selling shareholder and has also granted to the underwriters an option to purchase up to an additional 8,175,000
shares of common stock. Elanco will not issue shares in the offering and will not receive any proceeds from the sale of the shares
by the selling shareholder in the offering. The offering is expected to close on or about December 3, 2020, subject to certain
customary closing conditions.
The offering will be made under Elanco's
existing registration statement on Form S-3 as filed with the Securities and Exchange Commission. BofA Securities, Goldman Sachs
& Co. LLC and Credit Suisse are the joint book-running managers for the offering.
press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor does it constitute
an offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
The offering may be made only by means of a prospectus and a related prospectus supplement. Copies of the preliminary prospectus
supplement and the accompanying prospectus can be obtained from: BofA Securities, NC1-004-03-43, 200 North College Street, 3rd
floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at dg.prospectus_requests@bofa.com; Goldman
Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282-2198, by telephone at 1-866-471-2526,
or by e-mail at prospectus-ny@ny.email.gs.com; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department,
6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at 1-800-221-1037 or by email at usa.prospectus@credit-suisse.com.
Elanco Animal Health (NYSE: ELAN) is a global leader in animal
health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating
value for farmers, pet owners, veterinarians, stakeholders and society as a whole. With nearly 70 years of animal health heritage,
we are committed to helping our customers improve the health of animals in their care, while also making a meaningful impact on
our local and global communities. At Elanco, we're driven by our vision of Food and Companionship Enriching life and our
Elanco Healthy Purpose CSR framework - all to advance the health of animals, people and the planet.
Forward-Looking Statements
This press release contains forward-looking statements (as
that term is defined in the Private Securities Litigation Reform Act of 1995) about Elanco's current expectations and
assumptions regarding the proposed offering, capital market conditions, its business and other future conditions.
Forward-looking statements are based on our current expectations and assumptions regarding our business and other future
conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent
uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ
materially from those contemplated by the forward-looking statements. For further discussion of these and other risks and
uncertainties, see Elanco's most recent filings with the United States Securities and Exchange Commission. Except as
required by law, Elanco undertakes no duty to update forward-looking statements to reflect events after the date of this