News

Performance Food Group upsizes its public offering to 13.5M shares

April 16, 2020

Performance Food Group Company, parent company of Vistar, has upsized its previously announced public offering of 11.5 million shares to 13.5 million shares of its common stock at a price of $22.50 per share, according to a press release. The underwriters have been granted a 30-day option to purchase up to an additional 2,025,000 shares of the company’s common stock. The offering is expected to close on or about April 20, 2020, subject to the satisfaction of customary closing conditions.

Credit Suisse is acting as lead bookrunning manager and representative of the underwriters for this offering. Barclays, BMO Capital Markets, Rabo Securities and Wells Fargo Securities are acting as joint bookrunning managers.

The company intends to use the net proceeds of the offering (after deducting the underwriting discounts and commissions and other estimated expenses of the offering payable by the company) for working capital and other general corporate purposes.

The offering is being made pursuant to an effective shelf registration statement and prospectus and a related preliminary prospectus supplement filed by the company with the Securities and Exchange Commission.