Business
Vital Farms Announces Pricing of Secondary Public Offering of Common Stock at Closing Market Price
Vital Farms Will Not Receive Any Proceeds from Offering AUSTIN, Texas, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Vital Farms, Inc. (Nasdaq: VITL “Vital Farms”), a
About this update from Vital Farms, Inc.
[{"type":"text","content":"Vital Farms Will Not Receive Any Proceeds from Offering\nAUSTIN, Texas, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Vital Farms, Inc. (Nasdaq: VITL “Vital Farms”), a Certified B Corporation that offers a range of ethically produced pasture-raised foods nationwide, today announced the pricing of an underwritten public offering of 5,000,000 shares of common stock at a price of $30.25 per share. The closing price of the Company's common stock on November 11, 2020 was $30.25 per share. The shares are being offered by certain stockholders of Vital Farms (the “Selling Stockholders”). The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock at the public offering price, less underwriting discounts and commissions.\n The offering is expected to close on November 16, 2020, subject to the satisfaction of customary closing conditions. Vital Farms will not receive any proceeds from the sale of shares by the Selling Stockholders. Goldman Sachs & Co. LLC, Morgan Stanley, Credit Suisse Securities (USA) LLC and Jefferies are acting as joint lead bookrunning managers for the offering. BMO Capital Markets Corp. and Stifel, Nicolaus & Company, Incorporated are acting as bookrunning managers for the offering. The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526 or by email at [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014 or by email at [email protected]; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, by telephone at (800) 221-1037 or by email at [email protected]; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at 877-821-7388 or by email at [email protected]. A registration statement on Form S-1 relating to these securities has been declared effective by the Securities and Exchange Commission. A copy of the registration statement may b...