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Sotera Health uses IPO proceeds to pay down more than $1.1 billion in debt Print Sotera Health Co. (Nasdaq: SHC), a Broadview Heights company that provides lab services to the medical device and pharmaceutical industries, said it has paid down more than $1.1 billion in debt with proceeds of its initial public offering in November. The company said in a news release on Friday, Dec. 18, that it used IPO proceeds to pay down $341 million of its first lien term loan at the end of November, as well as to redeem all of the $770 million aggregate principal amount of its senior secured second lien notes on December 14 at a redemption price of 102% of principal (plus accrued and unpaid interest, which was paid with cash on hand).

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