CBOE Holdings Inc.

06/19/2019 | Press release | Distributed by Public on 06/19/2019 18:47

Grocery Outlet Holding Corp. Prices 17.18M Share IPO @$22.00/Share

Cboe - Market News Story

Grocery Outlet Holding Corp. Prices 17.18M Share IPO @$22.00/Share

Charles Gross 6/19/2019 7:12:46 PM

Grocery Outlet Holding Corp. (NASDAQ: GO) today announced the pricing of its initial public offering of 17,187,500 shares of its common stock at $22.00 per share. Shares of Grocery Outlet's common stock are expected to begin trading on The Nasdaq Global Select Market on June 20, 2019 under the symbol 'GO,' and the offering is expected to close on June 24, 2019, subject to customary closing conditions. Grocery Outlet has granted the underwriters a 30-day option to purchase up to an additional 2,578,125 shares of its common stock at the initial public offering price less the underwriting discount.

Grocery Outlet intends to use the net proceeds from the offering to repay the term loan outstanding under its second lien credit agreement and any remainder to repay a portion of the term loan outstanding under its first lien credit agreement.

The offering is being made through an underwriting group led by BofA Merrill Lynch, Morgan Stanley, Deutsche Bank Securities, Jefferies, Barclays, Goldman Sachs & Co. LLC, Guggenheim Securities, UBS Investment Bank and Cowen, who are acting as joint book-running managers for the offering. Telsey Advisory Group, Drexel Hamilton and Penserra Securities LLC are acting as co-managers.