PARSIPPANY, N.J.--(BUSINESS WIRE)--Mar. 15, 2016--
B&G Foods, Inc. (NYSE:BGS) announced today the closing of its public
offering of 4,600,000 shares of its common stock, which includes 600,000
shares issued pursuant to the underwriter’s over-allotment option, at a
public offering price of $33.55 per share.
After deducting underwriting discounts and commissions and other
estimated offering expenses, net proceeds to B&G Foods are approximately
$152.0 million. B&G Foods intends to use the proceeds from the offering
to repay outstanding borrowings under its revolving credit facility and
for general corporate purposes, which could include, among other things,
repayment of other long term debt or possible acquisitions. B&G Foods
may re-borrow amounts under its revolving credit facility at any time.
Barclays Capital Inc. acted as the underwriter for the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering is being made only by means of a prospectus
and the related prospectus supplement included as part of an effective
registration statement previously filed with the Securities and Exchange
Commission.
Interested persons may obtain copies of the prospectus and the related
prospectus supplement from the Securities and Exchange Commission’s
website at www.sec.gov
or by contacting the underwriter: Barclays Capital Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by
emailing [email protected]
or calling 888-603-5847.
About B&G Foods, Inc.
B&G Foods and its subsidiaries manufacture, sell and distribute a
diversified portfolio of high-quality, branded shelf-stable and frozen
foods across the United States, Canada and Puerto Rico. Based in
Parsippany, New Jersey, B&G Foods’ products are marketed under many
recognized brands, including Ac’cent, B&G, B&M,
Baker’s Joy, Bear Creek Country Kitchens, Brer
Rabbit, Canoleo, Cary’s, Cream of Rice,
Cream of Wheat, Devonsheer, Don Pepino, Emeril’s,
Grandma’s Molasses, Green Giant, JJ Flats, Joan of Arc,
Las Palmas, Le Sueur, MacDonald’s, Mama Mary’s,
Maple Grove Farms, Molly McButter, Mrs. Dash, New York Flatbreads,
New York Style, Old London, Original Tings, Ortega,
Pirate’s Booty, Polaner, Red Devil, Regina,
Rickland Orchards, Sa-són, Sclafani, Smart Puffs,
Spring Tree, Sugar Twin, Trappey’s, TrueNorth,
Underwood, Vermont Maid and Wright’s. B&G Foods
also sells and distributes Static Guard, a household product
brand.
Forward-Looking Statements
Statements in this press release that are not statements of
historical or current fact constitute “forward-looking statements.” The
forward-looking statements contained in this press release include
without limitation statements related to B&G Foods’ expected use of
proceeds of the common stock offering. Such forward-looking statements
involve known and unknown risks, uncertainties and other unknown factors
that could cause the actual results of B&G Foods to be materially
different from the historical results or from any future results
expressed or implied by such forward-looking statements. In addition to
statements that explicitly describe such risks and uncertainties readers
are urged to consider statements labeled with the terms “believes,”
“belief,” “expects,” “projects,” “intends,” “anticipates” or “plans” to
be uncertain and forward-looking. The forward-looking statements
contained herein are also subject generally to other risks and
uncertainties that are described from time to time in B&G Foods’ filings
with the Securities and Exchange Commission, including under Item 1A,
“Risk Factors” in the Company’s most recent Annual Report on Form 10-K
and in its subsequent reports, if any, on Forms 10-Q and 8-K. Investors
are cautioned not to place undue reliance on any such forward looking
statements, which speak only as of the date they are made. B&G
Foods undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160315006752/en/
Source: B&G Foods, Inc.
ICR, Inc.
Investor Relations:
Dara Dierks, 866-211-8151
or
Media
Relations:
Matt Lindberg, 203-682-8214
