On Wednesday, Roundy’s Inc. announced the closing of its
underwritten public offering of about 8.8 million shares of
its common stock at the price of $7 per share.
The Milwaukee-based grocery sold 2,948,113 shares of its
common stock and certain selling stockholders sold 5,896,226
shares of Roundy’s common stock. The underwriters exercised
in full their option to purchase an additional 1,326,650
shares of common stock from the selling stockholders, all at
the offering price less the underwriting discount. As a
result, the total offering size was 10,170,989 shares of
common stock, according to the announcement.
Roundy’s plans to use the net proceeds for general corporate
purposes, including funding working capital and operating
expenses as well as capital expenditures to build out the
Chicago stores acquired from Safeway, according to the
Roundy’s has nearly $4 billion in sales and more than 21,000
employees. Founded in Milwaukee in 1872, Roundy’s operates
163 retail grocery stores and 113 pharmacies under the Pick
’n Save, Rainbow, Copps, Metro Market and Mariano’s retail
banners in Wisconsin, Minnesota and Illinois.
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