Overview
- Medline said Thursday it closed its IPO at $29 per share with underwriters fully exercising their 32.4 million–share option, taking the total offering to 248,439,654 shares on the Nasdaq under MDLN.
- Shares opened at $35 and closed at $41 on the first day of trading, up about 41% from the IPO price, before easing to roughly $40 in after-hours trading.
- Proceeds from the issuance of 179 million shares will be used to repay senior secured term loan facilities, with proceeds from 37.0 million base shares and the option shares designated to purchase or redeem equity from pre‑IPO owners.
- The deal initially raised about $6.26 billion on 216 million shares, ranking as the biggest global IPO of 2025 and the largest U.S. debut since 2021, according to multiple market trackers.
- The company remains highly leveraged at roughly $16.8 billion of debt and has flagged tariff headwinds, estimating $325–$375 million of costs in 2025 and $150–$200 million in 2026, while private‑equity backers Blackstone, Carlyle and Hellman & Friedman retain major stakes.