By Chris Wack


Certara Inc. shares were up 20% to $12.76 Monday after Arsenal Capital Partners said it has committed to make a new $449 million investment in Certara.

Arsenal currently owns 4% of common shares outstanding and will buy 30 million additional shares from funds controlled by EQT Private Equity, at a price of $15 a share.

Upon closing of the transaction, Arsenal will own 22% of the diluted shares outstanding.

Arsenal said it has agreed to a two-year lock-up prohibiting any sale of the newly purchased shares without company approval.

Arsenal will also have the right to nominate up to two board members, including current board member Stephen McLean. Following the closing of the transaction, Arsenal Operating Partner David Spaight is expected to join the board, and current board members Eric Liu and Ethan Waxman of EQT will step down from the board.


Write to Chris Wack at chris.wack@wsj.com


(END) Dow Jones Newswires

11-07-22 1024ET