Pinnacle Foods announces IPO pricing

April 1, 2013

Pinnacle Foods Inc., a manufacturer, marketer, and distributor of food products, has announced the pricing of its initial public offering of 29,000,000 shares of its common stock at $20 per share. The shares began trading on the New York Stock Exchange on March 28, and the offering is expected to close on April 3, subject to customary closing conditions. Pinnacle Foods has granted the underwriters a 30-day option to purchase up to an additional 4,350,000 shares at the initial public offering price. Pinnacle Foods will receive net proceeds of approximately $545.2 million after deducting underwriting discounts and commissions, and intends to use the proceeds to reduce debt.

Press release