Stericycle Prices Public Offering of Mandatory Convertible Preferred Stock at $100/Depositary Share

Stericycle, Inc.

announced Wednesday, the pricing of its public offering of 7,000,000 depositary shares, each of which represents a 1/10th interest in a share of its 5.25% Series A Mandatory Convertible Preferred Stock ("Mandatory Convertible Preferred Stock"). Holders of the depositary shares will be entitled to a proportional fractional interest in the rights and preferences of the Mandatory Convertible Preferred Stock, including conversion, dividend, liquidation and voting rights, subject to the provisions of the related deposit agreement. The offering price is $100.00 per depositary share. In addition, the underwriters of the offering have an option to purchase up to an additional 700,000 depositary shares to cover over-allotments. The offering is expected to close on Tuesday, September 15, 2015, subject to customary closing conditions. Unless earlier converted or redeemed, each share of Mandatory Convertible Preferred Stock will automatically convert into between 5.8716 and 7.3394 shares of the Company's common stock, subject to anti-dilution and other adjustments, on the mandatory conversion date, which is expected to be September 15, 2018. The number of shares of the Company's common stock issuable on conversion will be determined based on the average volume-weighted average