- US Foods Holding Corp (NYSE:USFD) has priced a previously announced underwritten registered secondary offering of 17.4 million shares by KKR Fresh Holdings L.P. at $39.90 per share.
- The offering consists of common stock issuable upon the conversion of 371,044 shares of its Series A Convertible Preferred Stock.
- The offer price represents a 3.7% discount to the company’s closing price on Monday, May 22.
- US Foods will not receive any proceeds from the sale of shares in the offering.
- Also See: US Foods Buys Renzi Foodservice, Looks To Expand Reach Across Upstate New York
- The offering is expected to close on or about May 26, 2023.
- Also, US Foods has agreed to repurchase about $150 million shares being offered in the offering.
- Upon the closing of the offering, the selling stockholder KKR Fresh will no longer own any common stock or Series A Convertible Preferred Stock of US Foods.
- Also Read: US Foods Q1: 10% Topline Growth, Solid Case Volume, Reaffirmed FY23 Outlook & More
- Price Action: USFD shares are trading lower by 3.02% at $40.17 on the last check Tuesday.
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