Bloomin' Brands will see its ownership structure change after a $400 million-plus secondary public stock offering is completed. The company announced that "certain stockholders" in the firm are offering 19 million common shares for sale at $21.50 apiece in the underwritten issue. Additionally, the underwriters have been granted a 30-day option to purchase an additional 2.85 million shares from certain offering parties.
The joint book-running managers of the sale are Bank of America's Merrill Lynch, Morgan Stanley, JPMorgan Chase's J.P. Morgan Securities, Goldman Sachs, and the Securities arm of Deutsche Bank. The offering is expected to close on May 29.
The article Bloomin' Brands Secondary Stock Issue Floated originally appeared on Fool.com.
Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Goldman Sachs. The Motley Fool owns shares of Bank of America and JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.