Sovos Brands Prices Stockholders' Equity Offering At 4.8% Discount

by Shivani Kumaresan, Benzinga Staff Writer

August 11, 2022 5:54 AM | 1 min read |

Sovos Brands Inc 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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