- Sovos Brands Inc (NASDAQ:SOVO) has priced an underwritten secondary public offering of 8.5 million shares by certain stockholders at $14.00 per share.
- The offer price represents a 4.8% discount on the company’s closing price on August 10, 2022.
- The offering consists entirely of secondary shares to be sold by the selling stockholders, who will receive all of the proceeds.
- The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1.3 million shares at the public offering price.
- The offering is expected to close on August 15, 2022.
- Price Action: SOVO shares are trading lower by 1.56% at $14.47 in premarket on the last check Thursday.
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