Market Overview

Graphic Packaging Increases Secondary Offering to 18.5M Shares at $6.10/Share

Graphic Packaging Holding Company (NYSE: GPK) today announced that the selling stockholders have increased the size of the previously announced underwritten secondary public offering of 16,500,000 shares of its common stock to 18,500,000 shares and priced the offering at $6.10 per share.  The shares are being sold by certain existing stockholders of the Company.  The Company is not selling any shares and will not receive any proceeds from the offering and the total number of shares of its outstanding common stock will not change as a result of the offering.

In connection with the offering, the selling stockholders have granted to the underwriters an option to purchase up to 2,775,000 additional shares of common stock to cover overallotments. The offering is expected to close on December 18, 2012.

Goldman, Sachs & Co., BofA Merrill Lynch, J.P. Morgan, Citigroup and Deutsche Bank Securities are serving as joint book running managers for the offering and Baird and Oppenheimer & Co. are serving as co-managers.

As previously announced, the Company will repurchase 49,180,327 shares of its common stock from the selling stockholders concurrently with the closing of the offering.  The Company will purchase these shares from the selling stockholders

See full press release

Posted-In: Earnings News Guidance Management Global

 

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