B&G Foods Announces Closing of Public Offering of Common Stock
August 12 2016 - 5:30PM
Business Wire
B&G Foods, Inc. (NYSE:BGS) announced today the closing of
its public offering of 3,750,000 shares of its common stock at a
public offering price of $49.00 per share. In connection with the
offering, B&G Foods has granted the underwriters an option for
a period of 30 days to purchase up to an additional 550,000 shares
of common stock.
After deducting underwriting discounts and commissions and other
estimated offering expenses, net proceeds to B&G Foods are
approximately $179.9 million, assuming no exercise of the
underwriters' option to purchase additional shares. B&G Foods
intends to use the proceeds from the offering for general corporate
purposes, which could include, among other things, repayment of
long term debt or possible acquisitions.
Barclays Capital Inc., RBC Capital Markets, LLC and BofA Merrill
Lynch are acting as the underwriters for the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering is being made only by means of a
prospectus and the related prospectus supplement included as part
of an effective registration statement previously filed with the
Securities and Exchange Commission.
Interested persons may obtain copies of the prospectus and the
related prospectus supplement from the Securities and Exchange
Commission’s website at www.sec.gov or by contacting any of the
underwriters: Barclays Capital Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by
emailing Barclaysprospectus@broadridge.com or calling 888-603-5847;
RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New
York, NY 10281-8098, Attn: Equity Syndicate, by emailing
equityprospectus@rbccm.com or calling 877-822-4089; or BofA Merrill
Lynch, NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte NC 28255-0001, Attn: Prospectus Department, or by
emailing dg.prospectus_requests@baml.com.
About B&G Foods, Inc.
B&G Foods and its subsidiaries manufacture, sell and
distribute a diversified portfolio of high-quality, branded
shelf-stable and frozen foods across the United States, Canada and
Puerto Rico. Based in Parsippany, New Jersey, B&G Foods’
products are marketed under many recognized brands, including
Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country
Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice,
Cream of Wheat, Devonsheer, Don Pepino, Emeril’s,
Grandma’s Molasses, Green Giant, JJ Flats, Joan of Arc,
Las Palmas, Le Sueur, MacDonald’s, Mama Mary’s, Maple Grove
Farms, Molly McButter, Mrs. Dash,
New York Flatbreads, New York Style, Old London,
Original Tings, Ortega, Pirate’s Booty, Polaner, Red Devil,
Regina, Sa-són, Sclafani, Smart Puffs, Spring Tree, Sugar
Twin, Trappey’s, TrueNorth, Underwood, Vermont Maid and Wright’s.
B&G Foods also sells and distributes Static Guard, a household
product brand.
Forward-Looking Statements
Statements in this press release that are not statements of
historical or current fact constitute “forward-looking statements.”
The forward-looking statements contained in this press release
include without limitation statements related to B&G Foods’
expected use of proceeds of the common stock offering. Such
forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors that could cause the actual
results of B&G Foods to be materially different from the
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements that
explicitly describe such risks and uncertainties readers are urged
to consider statements labeled with the terms “believes,” “belief,”
“expects,” “projects,” “intends,” “anticipates” or “plans” to be
uncertain and forward-looking. The forward-looking statements
contained herein are also subject generally to other risks and
uncertainties that are described from time to time in B&G
Foods’ filings with the Securities and Exchange Commission,
including under Item 1A, “Risk Factors” in the Company’s most
recent Annual Report on Form 10-K and in its subsequent reports, if
any, on Forms 10-Q and 8-K. Investors are cautioned not to place
undue reliance on any such forward looking statements, which speak
only as of the date they are made. B&G Foods undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
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