Primo Water Announces Pricing of Public Offering of 6,000,000 Shares of Common Stock at $11.26/Share
Primo Water Corporation (Nasdaq: PRMW) today announced the pricing of an underwritten public offering of 6,000,000 shares of common stock, consisting of 3,421,369 shares to be sold by Primo Water and 2,578,631 shares to be sold by certain selling stockholders (including Culligan International Company), at a price to the public of $11.26 per share. The net proceeds to Primo Water, after underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $36.1 million. Primo Water will not receive any proceeds from the sale of the shares by the selling stockholders. The offering is expected to close on or about June 22, 2011, subject to satisfaction of customary closing conditions. Primo Water and Culligan International Company have granted the underwriters a 30 day option to purchase up to an additional 900,000 shares at the public offering price, less the underwriting discount, to cover over-allotments, if any.
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