Smithfield offers common stock at $13.85 per share
Proceeds to go toward capital, debt
Smithfield Foods has priced its underwritten registered public offering of common stock at $13.85 per share. There are 21,660,649 shares being offered.
With an eye to strengthen its balance sheet, the company plans to use net proceeds for working capital and possible debt retirement.
A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.