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Southeastern Grocers Announces Launch of Initial Public Offering

Southeastern Grocers Announces Launch of Initial Public Offering



JACKSONVILLE, FL - As the retail world continues to shift and change, Southeastern Grocers is evolving along with it. After earlier announcements that the company was considering going public, the grocer has officially unveiled the launch of its initial public offering (IPO). Southeastern will be offering up 8,900,000 shares of its common stock to be sold by certain stockholders, and will appear on the New York Stock Exchange under the ticker symbol “SEGR.”

It is anticipated that the company will be offering stocks at a price between $14 and $16 per share, according to a press release. Those stockholders who are selling their shares intend to grant underwriters a 30-day option to purchase up to an additional 1,335,000 shares of the company’s common stock.

Southeastern will not be selling any of its shares in the offering, and will not receive any net proceeds from the sale of its common stock being sold by stockholders. This includes from the underwriters with their option to purchase additional shares.

Southeastern Grocers has officially unveiled the launch of its initial public offering, and will appear on the New York Stock Exchange under the ticker symbol "SEGR"

BofA Securities and Goldman Sachs & Co. are the acting joint lead book running managers, as well as the representatives of the underwriters for the offering. Deutsche Bank Securities, BMO Capital Markets, and Wells Fargo Securities will be acting as book-running Managers for the offering, and Truist Securities is acting as Co-Manager for the offering.

The grocer has already filed a registration statement relating to the securities with the SEC, but it has yet to become effective. Until that time, securities are not allowed to be sold, and offers to buy cannot be accepted.

How will Southeastern’s IPO announcement affect its growth strategy? Keep reading AndNowUKnow as we explore the expanding retail market.

Southeastern Grocers