- U.S. Foods Holding Corp USFD has at the price of a previously announced insured registration Secondary offering of 17.4 million shares by KKR Fresh Holdings LP at $39.90 per share.
- The offering consists of common shares issuable upon the conversion of 371,044 shares of 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 the shares in the offering.
- See also: US Foods buys Renzi Foodservice and wants to expand its reach throughout upstate New York
- Offer expected to end on or about May 26, 2023.
- In addition, US Foods has agreed to repurchase approximately $150 million of shares offered in the offering.
- Upon the closing of the Offering, selling shareholder KKR Fresh will no longer own any US Foods common stock or Series A convertible preferred stock.
- also read: US Foods Q1: 10% sales growth, solid sales volume, confirmed FY23 outlook and beyond
- price action: USFD shares are trading 3.02% lower at $40.17 at last check on Tuesday.
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