Post Holdings announces partial exercise of option to purchase additional 200,000 shares of convertible preferred stock; proceeds from option expected to be approximately US$19.4M

Nevin Barich

ST. LOUIS , January 13, 2014 (press release) – POST) (the "Company") announced today that the initial purchasers of its recent private offering of 2.5% Series C Cumulative Perpetual Convertible Preferred Stock (the "Preferred Stock"), which closed on December 16, 2013, have partially exercised their option to purchase additional shares of the Preferred Stock and will purchase an additional 200,000 shares. Proceeds to the Company net of fees from the exercise of the option are expected to be approximately $19.4 million. Aggregate proceeds to the Company net of fees from the issuance of the Preferred Stock, including the exercise of the option, will be approximately $310.2 million. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include, among other things, financing pending acquisitions and any additional acquisition opportunities, working capital and capital expenditures. The sale of the additional shares is expected to close on January 14, 2014, subject to customary closing conditions.

The Preferred Stock was offered in the United States to qualified institutional buyers in an offering exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Preferred Stock and any shares of the Company's common stock into which the Preferred Stock is convertible have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

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