Cal-Maine Foods Announces Proposed Secondary Offering of Common Stock

About this update from Cal-maine Foods, Inc.

[{"type":"text","content":" JACKSON, Miss.--(BUSINESS WIRE)--\nCal-Maine Foods, Inc. (NASDAQ: CALM) today announced an underwritten public offering of 6,000,000 shares of its common stock by Jean Reed Adams, the wife of the Company’s late founder, Fred R. Adams, Jr. (“Mr. Adams”), and a trust of which the four daughters of Mr. Adams, Luanne Adams, Nancy Adams Briggs, Laurel Adams Krodel, and Dinnette Adams Baker, are beneficiaries (collectively, the “Selling Stockholders”), subject to market conditions and other factors. The Selling Stockholders are also expected to grant the underwriters of the offering an option to purchase within 30 days up to an additional 900,000 shares or common stock, if any.\n\n\nBofA Securities is acting as lead book-running manager and representative of the underwriters for the offering. Stephens Inc. is also acting as a book-running manager for the offering. The Company is not selling any shares of common stock in the offering, and the Company will not receive any proceeds from the offering by the Selling Stockholders. The Selling Stockholders have informed the Company that they are selling the above shares to pay estate taxes resulting from the passing of Mr. Adams and to generate liquidity.\n\n\nA registration statement (including prospectus) relating to these securities was filed with and declared effective by the Securities and Exchange Commission (the “SEC”). Information about the offering is available in the preliminary prospectus supplement filed by the Company with the SEC today. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained by contacting BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, Email: [email protected].\n\n\nThe offering of these securities is being made solely by means of a prospectus supplement and the accompanying prospectus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\n\n\nCal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of ...

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