B&G makes public offering of Class A common stock
May 09, 2007
by FoodBusinessNews.net Staff
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.