B&G makes public offering of Class A common stock

by FoodBusinessNews.net Staff
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PARSIPPANY, N.J. — B&G Foods, Inc. is offering 13,900,000 shares of Class A common stock at a public offering price initially expected to be between $12 and $14 per share.

The offer follows an effective shelf registration statement filed with the Securities and Exchange Commission. B&G also expects to give underwriters the chance to purchase up to 2,085,000 shares of Class A common stock during a 30-day period.

The company said it plans to use to revenue from the offer to repurchase outstanding shares of Class B common stock, to repay a portion of its term loan borrowings under its senior secured credit facility, to fund fees and costs related to the offering and for corporate purposes.

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