Susser plans to use the net proceeds from this offering for growth capital for new store development and general corporate purposes.
Susser Holdings Corp. announced that the underwriters of its recent public offering of common stock have exercised their additional purchase option in part, purchasing 275,000 shares of common stock at a public offering price of $21.75 per share.
Earlier this month Susser Holdings sold 3,500,000 common shares of its stock through an underwritten public offering. After giving effect to the underwriters’ purchase of these additional shares, combined net proceeds from the offering totaled approximately $77.7 million, after deducting underwriting discounts and commissions and estimated offering expenses.
Susser intends to use the net proceeds from this offering for growth capital for new store development and general corporate purposes, which may include opportunistic debt reduction, from time to time, based on market conditions.
BofA Merrill Lynch was the sole book-running manager for this offering. BMO Capital Markets and Morgan Keegan acted as joint lead managers for the offering. RBC Capital Markets and Wells Fargo Securities acted as senior co-managers for the offering. Imperial Capital and Sidoti & Co. LLC acted as co-managers for the offering. Copies of the prospectus supplement and the accompanying prospectus relating to the offering may be obtained from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080 Attn: Prospectus Department, or via email at email@example.com.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state.
Corpus Christi, Texas-based Susser Holdings Corp. is a third-generation family led business with approximately 1,100 company-operated or contracted locations. The Company operates 540 convenience stores in Texas, New Mexico and Oklahoma under the Stripes banner.