Deal Details
Freshpet Completes $350 Million Follow-On Offering
Summary
Freshpet, Inc. (“Freshpet” or the “Company”) (NASDAQ: FRPT) recently completed a follow-on offering of 4,320,988 shares of its common stock at a price of $81.00 per share, generating gross proceeds of approximately $350 million. The Company has also granted the underwriters a 30-day option to purchase up to 648,148 additional shares of its common stock. Freshpet intends to use the net proceeds from the offering for general corporate purposes, including funding the continued development of Freshpet Kitchens South and Freshpet Kitchens Ennis, additions to working capital, investments in subsidiaries, repayment of indebtedness and for other general corporate purposes.
Baird served as a bookrunner on this offering.
About
Freshpet is disrupting the over $40.0 billion North American pet food industry by driving consumers to reassess conventional dog and cat food offerings that have remained essentially unchanged for decades. Freshpet positions the brand to benefit from mainstream trends of growing pet humanization and consumer focus on health and wellness. Freshpet’s products represent a significant innovation in pet food, and it has developed a brand proposition that pet parents can intuitively trust. Freshpet’s products appeal to a broad demographic across multiple classes of retail, including grocery (including online), mass, club, pet specialty and natural. Freshpet, Inc. is headquartered in Secaucus, New Jersey.CONTACT US TO LEARN MORE
- Date
- May 2022
- Company
- Freshpet, Inc.
- Transaction
- Equity Capital Markets
- Sectors
- Consumer
- Verticals
-
Food & Beverage
Household Products
Multi-Unit, Restaurants & Franchising
- Target Geography
- North America
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