Pilgrim's Pride Corporation Announces Pricing of Common Stock Offering
PITTSBURG, Texas, May 13 /PRNewswire-FirstCall/ -- Pilgrim's Pride Corporation (NYSE: PPC) today announced that it has priced a public offering of 7,500,000 shares of common stock at $24.00 per share. The offering is expected to close on May 16, 2008 subject to standard closing conditions. The offering was made through Lehman Brothers Inc. as sole underwriter.
Pilgrim's Pride will use the net proceeds of the offering to reduce outstanding indebtedness under its credit facilities and for general corporate purposes.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the common stock. A registration statement relating to the shares was declared effective by the Securities and Exchange Commission on December 5, 2005, and this offering will be made by means of a prospectus supplement. Copies of the prospectus supplement relating to the offering may be obtained from the offices of Lehman Brothers at the following address:
Lehman Brothersc/o Broadridge
1155 Long Island Avenue
Edgewood, NY 11717
Email: qiana.smith@broadridge.com
Or by calling toll free at: 1-888-603-5847
An electronic copy of the prospectus supplement will also be available on the website of the Securities and Exchange Commission at http://www.sec.gov.
SOURCE Pilgrim's Pride Corporation |
Media Contact
Cameron Bruett
Communications
Phone: +1 970.506.7801 | Email: cameron.bruett@jbssa.com