KKR Fresh Divests Stake In US Foods Holding; Company Repurchases $150M Stock

US Foods Holding Corp USFD has priced a previously announced underwritten registered secondary offering of 17.4 million shares by KKR Fresh Holdings L.P. at $39.90 per share.
The offering consists of common stock issuable upon the conversion of 371,044 shares of its Series A Convertible Preferred Stock.
The offer price represents a 3.7% discount to the company’s closing price on Monday, May 22.
US Foods will not receive any proceeds from the sale of shares in the offering.
Also See: US Foods Buys Renzi Foodservice, Looks To Expand Reach Across Upstate New York
The offering is expected to close on or about May 26, 2023.
Also, US Foods has agreed to repurchase about $150 million shares being offered in the offering.
Upon the closing of the offering, the selling stockholder KKR Fresh will no longer own any common stock or Series A Convertible Preferred Stock of US Foods.
Also Read: US Foods Q1: 10% Topline Growth, Solid Case Volume, Reaffirmed FY23 Outlook & More
Price Action: USFD shares are trading lower by 3.02% at $40.17 on the last check Tuesday.