PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thu, December 2, 6:07 PM
| This Slide: #426 of 573 |
Slide #426. Post Holdings, Inc. — Preferred Stock Offering
Company:
Post Holdings, Inc. (NYSE:POST)
Date announced:
12/9/2013
Shares Offered:
3,000,000
Date of Pricing:
12/10/2013
Preferred Stock Offering Details:
Post Holdings, Inc. (NYSE: POST) (the "Company") announced today that it intends to commence a private offering to eligible purchasers, subject to market and other conditions, of approximately $300 million of a newly created series of convertible preferred stock, to be designated as Series C Cumulative Perpetual Convertible Preferred Stock (the "Preferred Stock"). The Company expects to grant the initial purchasers of the Preferred Stock a 30-day option to purchase up to an additional $45 million in shares of Preferred Stock. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include, among other things, financing the pending acquisitions and any additional acquisition opportunities, working capital and capital expenditures. - updated 12/11 - Post Holdings, Inc. (NYSE:POST) (the "Company") announced today that it has priced its offering of 3,000,000 shares of a newly created series of convertible preferred stock to be designated as its 2.5% Series C Cumulative Perpetual Convertible Preferred Stock (the "Preferred Stock"). The Company also has granted the initial purchasers of the Preferred Stock a 30-day option to purchase up to an additional $45 million (or 450,000 shares) of Preferred Stock. Proceeds net of fees from this offering are expected to be approximately $290.5 million, or approximately $334.0 million if the initial purchasers exercise their option in full. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include, among other things, financing the pending acquisitions and any additional acquisition opportunities, working capital and capital expenditures. The offering is expected to close on December 16, 2013, subject to customary closing conditions.
Post Holdings is a consumer packaged goods holding company. Co.'s segments are: Post Consumer Brands, which manufactures, markets and sells branded and private label ready-to-eat (RTE) cereal and hot cereal products; Weetabix, which markets and distributes branded and private label RTE cereal products; Foodservice, which produces and distributes egg and potato products; Refrigerated Retail, which produces and distributes side dishes, eggs and egg products, sausage, cheese and other dairy and refrigerated products; and BellRing Brands, which markets and distributes ready-to-drink (RTD) protein shakes, other RTD beverages, powders and nutrition bars in the nutrition category.
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Avg. Broker Rec.
 
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Strong Buy (3.67 out of 4) 61st percentile
(ranked higher than approx. 61% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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