trending Market Intelligence /marketintelligence/en/news-insights/trending/a2c6szb8vxfaqqtvknb_bg2 content esgSubNav
In This List

Conagra Brands prices common stock offering

Blog

Banking Essentials Newsletter 2021: December Edition

Blog

Automating Credit Risk Surveillance Using Statistical Models

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Post-webinar Q&A: Speed and Scalability – Automation in Credit Risk Modeling


Conagra Brands prices common stock offering

Packaged food company Conagra Brands Inc. priced its underwritten public offering of 16,312,057 common shares at $35.25 apiece.

The company has given underwriters an option to buy up to an additional 1,631,206 common shares. JANA Partners LLC is purchasing 5,673,759 shares in the offering.

Conagra expects net proceeds of $556 million, or about $612 million if the underwriters exercise their option to purchase additional shares in full. The company plans to use the net proceeds to finance the acquisition of Pinnacle Foods Inc. as well as to pay expenses related to the Pinnacle transaction.

The proceeds will also be used to repay borrowings under company's existing term loan facility and commercial paper program.

The offering is expected to close Oct. 12, subject to customary closing conditions.