PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sun, October 6, 5:28 AM
| This Slide: #553 of 625 |
Slide #553. Post Holdings, Inc. — Preferred Stock Offering
Company:
Post Holdings, Inc. (NYSE:POST)
Date announced:
2/20/2013
Shares Offered:
2,100,000
Date of Pricing:
2/21/2013
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 $175 million of a newly created series of convertible preferred stock, to be designated as Series B 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 $26.25 million in shares of Preferred Stock. The Company intends to use the net proceeds from the offering to repay in full all amounts outstanding under its term loan facility, which had a principal balance of $168.4 million as of December 31, 2012, and use the remaining net proceeds for general corporate purposes which could include, among other things, financing acquisitions. --updated 2/21/13 - Post Holdings, Inc. (NYSE:POST) (the "Company") Post Holdings, Inc. (NYSE:POST) (the "Company") announced today that it has priced its offering of shares of a newly created series of convertible preferred stock, to be designated as its 3.75% Series B Cumulative Perpetual Convertible Preferred Stock (the "Preferred Stock"). The Company also has increased the size of the offering to $210,000,000 (or 2,100,000 shares) from the previously announced $175,000,000 and has granted the initial purchasers of the Preferred Stock a 30-day option to purchase up to an additional $31,500,000 (or 315,000 shares) of Preferred Stock. Net proceeds from this offering are expected to be approximately $203,000,000, or approximately $233,500,000 if the initial purchasers exercise their option in full. The Company intends to use the net proceeds from the offering to repay in full all amounts outstanding under its term loan facility, which had a principal balance of $168.4 million as of December 31, 2012, and use the remaining net proceeds for general corporate purposes which could include, among other things, financing acquisitions. The offering is expected to close on February 26, 2013, subject to customary closing conditions.
Post Holdings is a consumer packaged goods holding company. Through its subsidiaries, Co. operates in four segments: Post Consumer Brands, which manufactures, markets and sells a portfolio of branded and private label packaged foods products in the ready-to-eat (RTE) cereal, hot cereal and peanut and nut butter categories; Weetabix, which markets and distributes branded and private label RTE cereal products; Foodservice, which produces and distributes egg and potato products in the foodservice and food ingredient channels; and Refrigerated Retail, which produces and distributes side dishes, eggs and egg products, sausage, cheese and other dairy and refrigerated products to retail customers.
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Avg. Broker Rec.
 
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Strong Buy (3.56 out of 4) 64th percentile
(ranked higher than approx. 64% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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