- Post Holdings (NYSE:POST) announces a $400M private offering of a newly-created series of convertible preferred stock.
- The company expects to grant the initial purchasers of the preferred stock a 30-day option to purchase up to an additional $60.0M worth of shares.
- Post plans to use the proceeds from the offering to repay a portion of its existing term loan, which it notes will expand capacity for cash acquisitions and opportunistic common share repurchases.
- Source: Press Release
- Shares of Post are up 21.2% YTD.