Annie's (BNNY) Affirms Pricing 3.5M Offering at $40/Share

March 13, 2013 8:31 AM EDT
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Annie's, Inc. ("Annie's" or the "Company") announced today the pricing of the offering of 3,500,000 shares of common stock to be sold exclusively by participating selling stockholders at a price to the public of $40.00 per share.

In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 525,000 shares to cover overallotments, if any. Annie's will not receive any proceeds from the sale of shares by the selling stockholders or the exercise of the underwriters' option to purchase additional shares.

Annie's has also entered into an agreement with the selling stockholders to repurchase 500,000 shares of common stock, concurrently with the closing of the offering, directly from such selling stockholders in a private, non-underwritten transaction at a price per share equal to the price paid by the underwriters in the offering. The closing of the share repurchase is contingent on the closing of the offering. The closing of the offering is not contingent on the closing of the share repurchase.

Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are acting as joint book-running managers, with Stifel, Nicolaus & Company, Incorporated; William Blair & Company, L.L.C.; and RBC Capital Markets, LLC acting as co-managers for the offering.

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