Southeastern Grocers announced the launch of its initial public offering of 8,900,000 shares of its common stock.
To be sold by certain of its stockholders, the initial price will range from $14 to $16 per share, and is pursuant to a registration statement on Form S-1 previously filed with the SEC, the company said.
In addition, the company is not selling any shares in the offering, and selling stockholders are intended to grant the underwriters a 30-day option to purchase ip to an additional 1,335,000 shares of its common stock.
BofA Securities and Goldman Sachs are acting as joint lead book-running managers and representatives of the underwriters for the offering, while Deutsche Bank Securities, BMO Capital Markets and Wells Fargo Securities are acting as book-running managers for the offering.
Lastly, Southeastern Grocers has applied to the list of shares of common stock on the New York Stock Exchange under the SEGR ticker symbol.