Company, holders combine for 6.9 million shares including greenshoe
By Jennifer Chiou
New York, April 15 - Primo Water Corp. registered a proposed public offering of 6 million common shares plus a greenshoe for an additional 900,000 shares in an S-1 filed Friday with the Securities and Exchange Commission.
Excluding the over-allotment option, the company is offering 3.2 million of the shares and selling shareholders are chipping in the remaining 2.8 million, all at a proposed price of $15.96 each.
Partial proceeds from the potential $110.12 million offering will be used to repay borrowings under Primo's senior revolving credit facility and for working capital purposes. The company noted that it will not receive any proceeds from selling holders' sales.
The per-share price, representing a 0.125% discount, is a hair under the closing share price of $15.98 on Friday.
Stifel Nicolaus Weisel, BB&T Capital Markets, Janney Montgomery Scott and Signal Hill are running the books.
Primo is a Winston-Salem, N.C., provider of multi-gallon purified bottled water, self-serve filtered drinking water and water dispensers.
| Issuer: | Primo Water Corp.
|
| Issue: | Common shares
|
| Amount: | $110,124,000 (including greenshoe)
|
| Shares: | 6 million
|
| Greenshoe: | 900,000 shares
|
| Price: | $15.96
|
| Warrants: | No
|
| Agents: | Stifel Nicolaus Weisel, BB&T Capital Markets, Janney Montgomery Scott and Signal Hill
|
| Pricing date: | April 15
|
| Stock symbol: | Nasdaq: PRMW
|
| Stock price: | $15.98 at close April 15
|
| Market capitalization: | $310.51 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
