The Pantry Files Shelf for $165.4 Million

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The Pantry Files Shelf for $165.4 Million

07/01/2004
SANFORD, N.C. -- Convenience store operator The Pantry Inc. has filed a shelf registration statement with the Securities and Exchange Commission for an offering of 8 million shares worth a maximum of $165.4 million, reported the Raleigh, N.C.-based Triangle Business Journal.

The filing would allow The Pantry to offer 2 million new shares of its common stock at $20.68 per share.

The filing also would permit investment funds affiliated with Santa Monica, Calif.-based investment firm Freeman Spogli & Co. to offer for resale up to 6 million shares of the company's common stock at the same sale price per share. The Pantry will not receive any proceeds from any sale of shares by those stockholders.

The Pantry will use the net proceeds from its part of the offering for general corporate purposes, including potential acquisitions or repayment of debt.