Hain Celestial Announces the Closing of Secondary Offering of Common Stock by Selling Stockholders and Concurrent Share Repurchase

About this update from The Hain Celestial Group, Inc.

[{"type":"text","content":"LAKE SUCCESS, N.Y., Nov. 15, 2021 /PRNewswire/ -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) (\"Hain Celestial,\" \"Hain\" or the \"Company\"), today announced the closing of an underwritten secondary offering, pursuant to which certain affiliates of Engaged Capital, LLC (the \"Selling Stockholders\") that had existing ownership interests in Hain sold 12,379,504 shares of Hain common stock. The shares were offered at a price to the public of $45.50 per share. The Selling Stockholders received all of the net proceeds from the offering. Hain did not sell any shares of common stock in the offering.\n\n \n \n \n \n \n \n\n \nConcurrently with the completion of the offering, the Company repurchased directly from the Selling Stockholders 1,700,000 shares of common stock. The price per share paid by the Company equaled the price at which the underwriter purchased the shares from the Selling Shareholders in the offering, net of underwriting discounts and commissions, which was $45.00 per share. The Company funded the share repurchase with borrowings under its revolving credit facility. \nMorgan Stanley acted as the sole underwriter for the offering.\nThe Selling Stockholders are co-investment funds managed by Engaged Capital, LLC (\"Engaged Capital\") that are mandatorily winding down pursuant to their terms. Engaged Capital and its affiliates continue to hold 1,900,792 shares of Hain common stock following the closing of the offering and the repurchase. Glenn W. Welling, the Founder and Chief Investment Officer of Engaged Capital, continues to serve as a director of the Company after the offering.\nMark L. Schiller, Hain Celestial's President and Chief Executive Officer, stated, \"We would like to thank Glenn and Engaged Capital for their input and collaboration over the past several years, and we are delighted that our relationship with Engaged Capital and Glenn's contributions as a director will continue. We remain focused on our Hain 3.0 plan to build a global healthy food and beverage company with industry-leading top line growth as we continue to create shareholder value.\"\nThe offering was made pursuant to an effective shelf registration statement (including a prospectus) and a prospectus supplement relating to the offering filed by Hain with the Securities and Exchange Commission (\"SEC\"). You may obtain a copy of the prosp...

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