USFD - US Foods' selling stockholder to offer shares; company plans for concurrent buyback

2023-05-23 09:07:55 ET

• US Foods ( NYSE: USFD ) said Tuesday that its selling stockholder plans to offer 17,425,053 shares of its common stock in a secondary offering.
• KKR Fresh Holdings L.P. is the selling stockholder in the offering.
• The offering will also consist of common stock which will be issuable upon the conversion of 371,044 shares of Series A convertible preferred stock held by the selling stockholder.
• The company will not receive any proceeds from the secondary offering.
• Morgan Stanley is acting as the sole underwriter for the offering.
• Concurrently, the company also plans to buy back about $150 million of its common stock.
• The concurrent share repurchase is conditioned upon the completion of the offering.
• The offering is not conditioned upon the completion of the concurrent share repurchase.
• Press Release .

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