Sprouts closes IPO of more than 21 million shares at US$18/share, receives net proceeds of US$344M, to be used to repay indebtedness and for general corporate purposes
August 6, 2013
– Sprouts Farmers Market, Inc. (the "Company") (SFM) today announced the closing of its initial public offering of 21,275,000 shares of common stock, including 2,775,000 shares of common stock issued as a result of the exercise in full of the underwriters' option to purchase additional shares, at a price of $18.00 per share. The Company sold 20,477,215 shares of common stock, including the additional shares, and certain stockholders sold the remaining 797,785 shares.
The Company received net proceeds from the offering of approximately $344 million, after deducting underwriting discounts and offering expenses. The Company intends to use the net proceeds received from the sale of its shares to repay $340 million of outstanding indebtedness under its term loan facility and for general corporate purposes.
The offering is being made through an underwriting group led by Goldman, Sachs & Co., Credit Suisse, BofA Merrill Lynch, Apollo Global Securities, Barclays, Deutsche Bank Securities, UBS Investment Bank, Guggenheim Securities and Wolfe Research Securities. Goldman, Sachs & Co., Credit Suisse and BofA Merrill Lynch are acting as joint book-running managers of the offering and Goldman, Sachs & Co. and Credit Suisse are the representatives of the underwriters.
A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. The final prospectus relating to the offering has been filed with the Securities and Exchange Commission and copies may be obtained by request from: Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, Telephone: 866-471-2526, Facsimile: 212-902-9316 or by emailing firstname.lastname@example.org; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, Telephone: 800-221-1037, or by emailing email@example.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these 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.