Scotts Miracle-Gro SMG announced the expiration and results of its previously announced registered exchange offer to exchange any and all of its $500 million aggregate principal amount of 4.000% senior notes due 2031. The notes were issued in a private placement on March 17, 2021, for an equal principal amount of its 4.000% senior notes due 2031, which have been registered under the Securities Act of 1933, as amended.
The exchange offer expired at 11:59 p.m., New York City time, on February 3, 2022. As of that time, $474.98 million aggregate principal amount, or approximately 95.0%, of the original notes had been validly tendered for exchange and not validly withdrawn. All of the original notes validly tendered and not validly withdrawn were accepted for exchange in the exchange offer. The company expects that settlement of the exchange offer will occur on or about February 9, 2022.
The exchange offer was made to satisfy the company's obligations under a registration rights agreement entered into on March 17, 2021 in connection with the issuance of the original notes, and does not represent a new financing transaction.
Price Action
The Scotts Miracle-Gro Company shares traded 0.17% lower at $134 per share during Friday's pre-market session.
Photo: Courtesy of davide ragusa on Unsplash
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!