Pilgrim's Pride Corporation Completes Previously Announced Common Stock Offering
PR Newswire
Posted: 2008-05-16 10:43:00
PITTSBURG, Texas, May 16 /PRNewswire-FirstCall/ -- Pilgrim's Pride
Corporation (NYSE: PPC) today announced that it has completed a public
offering of 7,500,000 shares of common stock for total consideration to
Pilgrim's Pride of approximately $177 million. Lehman Brothers Inc. acted as
the sole underwriter for the offering.
Pilgrim's Pride will use the net proceeds of the offering to reduce
outstanding indebtedness under its credit facilities and for general corporate
purposes.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities, in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction. A registration statement
relating to the shares automatically became effective upon filing with the
Securities and Exchange Commission on December 5, 2005, and a prospectus
supplement relating to the offering was filed with the Securities and Exchange
Commission on May 14, 2008. Copies of the prospectus supplement and
accompanying base prospectus relating to the offering may be obtained from
Lehman Brothers at the following address:
Lehman Brothers
c/o Broadridge
1155 Long Island Avenue
Edgewood, NY 11717
Email: qiana.smith@broadridge.com
Or by calling toll free at: 1-888-603-5847
An electronic copy of the prospectus supplement is also available on the
website of the Securities and Exchange Commission at http://www.sec.gov.
Contact:
Gary Rhodes
Vice President, Corporate Communications & Investor Relations
(903) 434-1495
SOURCE Pilgrim's Pride Corporation
