Sanderson completes stock offering
LAUREL — Sanderson Farms Inc. has closed its underwritten registered public offering of 2.3 million shares of its common stock, including 300,000 shares issued in connection with the underwriters exercise of their over-allotment option following the pricing of the offering. The offering price to the public was $53 per share.
Sanderson intends to use the net proceeds from the offering, together with other funds, to finance the construction of its new retail poultry complex in Kinston, N.C., and a potential new big bird poultry complex to be located near Goldsboro, N.C.. Pending such uses, net proceeds from the offering may be used to reduce indebtedness and to invest in cash and cash equivalents. The company may use some of the invested proceeds as working capital and for general corporate purposes.
Morgan Stanley and J.P. Morgan acted as the joint book-running managers of the offering, and BMO Capital Markets and Stephens Inc. were co-managers.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “Sanderson completes stock offering”
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Brandon man hauls in record 756-pound alligator
- McDaniel delays decision on whether to appeal dismissal of lawsuit
- More than a dozen school districts sue state over funding
- FLIPPING OUT — Flipping houses is popular in much of the country, but in Mississippi ...
- REVVING UP — Motorcars of Jackson is preparing to open its first-ever showroom on I-55
- Is cotton looking too good? Farmers facing weaker prices
- Jackson to get C Spire's high-speed internet
- New York firm buying majority interest in Tupelo mall, shopping center
- Bryant issues executive order to establish Delta water task force