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STE 424B5: Secondary offering

Filed with the SEC on · accession 0001193125-26-458328

STE filed a 424B5 (prospectus (offering)) with the SEC on Nov 12, 2026. STERIS Irish FinCo Unlimited Company, a subsidiary of STERIS plc, is offering $1.5 billion in senior notes ($750 million of 5.650% notes due 2033 and $750 million of 5.875% notes due 2036), guaranteed by STERIS plc, STERIS Corporation, and STERIS Limited. The stock moved -1.1% by the first close after the filing.

Summary of the filing

STERIS Irish FinCo Unlimited Company, a subsidiary of STERIS plc, is offering $1.5 billion in senior notes ($750 million of 5.650% notes due 2033 and $750 million of 5.875% notes due 2036), guaranteed by STERIS plc, STERIS Corporation, and STERIS Limited. The proceeds are intended to fund the acquisition of Xodus Medical, Inc., with a special mandatory redemption if the acquisition is not completed by January 11, 2028.

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Key details

Aggregate principal amount of 5.650% senior notes due 2033$750.0M
Aggregate principal amount of 5.875% senior notes due 2036$750.0M
Total public offering price for 2033 notes$748.4M
Total public offering price for 2036 notes$748.9M
Underwriting discounts for 2033 notes$4.7M
Underwriting discounts for 2036 notes$4.9M
Proceeds to issuer before expenses for 2033 notes$743.7M
Proceeds to issuer before expenses for 2036 notes$744.0M
IssuerSTERIS Irish FinCo Unlimited Company
GuarantorSTERIS plc
GuarantorSTERIS Corporation
GuarantorSTERIS Limited
Acquisition targetXodus Medical, Inc.
Joint book-running managerJ.P. Morgan
Joint book-running managerGoldman Sachs & Co. LLC
Joint book-running managerCitigroup
Joint book-running managerBofA Securities
Joint book-running managerPNC Capital Markets LLC
Joint book-running managerWells Fargo Securities

How STE stock reacted

Close before

$256.27

Nov 11, 2026

First close after

-1.10%

$253.44

5 trading days

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Since filing

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Frequently asked questions

What did STE file with the SEC on Nov 12, 2026?

STE filed a 424B5 (Secondary offering). STERIS Irish FinCo Unlimited Company, a subsidiary of STERIS plc, is offering $1.5 billion in senior notes ($750 million of 5.650% notes due 2033 and $750 million of 5.875% notes due 2036), guaranteed by STERIS plc, STERIS Corporation, and STERIS Limited. The proceeds are intended to fund the acquisition of Xodus Medical, Inc., with a special mandatory redemption if the acquisition is not completed by January 11, 2028.

What does a secondary offering mean for STE stock?

New shares dilute existing holders and are often sold at a discount to the market price.

How do I read a 424B5?

The final terms of an offering of shares or bonds. Look at price, number of shares and the discount to the market price. Large offerings dilute existing shareholders.

Why are SEC filings important?

Public companies must tell the SEC about anything that can change their value — results, leadership changes, big deals, new shares, bankruptcy. Filings are the official source, often before the news. A 424B5 (prospectus (offering)): The final terms of an offering of shares or bonds.

How did STE stock react to this filing?

STE closed at $256.27 before the filing and $253.44 on Nov 12, 2026 (-1.10%).

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