AUSTIN, TEXAS — Amplify Snack Brands, Inc., maker of Skinny Pop Popcorn and Paqui tortilla chips, has launched a public offering for 10 million shares of the company’s common stock. All shares are being sold by existing stockholders, including certain directors of the company.
“The principal purpose of this offering is to facilitate an orderly distribution of shares for the selling stockholders,” Amplify noted in a May 16 filing with the Securities and Exchange Commission. “The selling stockholders, which include certain of our directors, will receive all the proceeds from the sale of shares in this offering. We will not receive any proceeds from the sale of shares in this offering.”
The selling stockholders also have granted the underwriters a 30-day option to purchase up to 1.5 million additional shares of common stock.
Amplify’s common stock is listed on the New York Stock Exchange under the symbol “BETR.” On May 16, the last reported sale price of the company’s common stock on the New York Stock Exchange was $12.88 per share.
Last fall, Amplify undertook an initial public offering that commenced on Aug. 5, 2015, in which 15 million shares of the company’s common stock were sold by selling stockholders to the public at a price of $18 per share.Net income at Amplify in the year ended Dec. 31, 2015, was $9,885,000, equal to 14c per share on the common stock, up 109% from $4,738,000, or 7c per share, in fiscal 2014. Adjusted EBITDA, meanwhile, increased 28% to $74,892,000 from $58,537,000. Net sales during fiscal 2015 totaled $183,915,000, up 187% from $64,004,000 in fiscal 2014.