The Pantry Files Stock Proposal

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The Pantry Files Stock Proposal

NEW YORK -- Convenience store operator The Pantry Inc. said on Tuesday it filed a statement with U.S. regulators proposing a secondary offering of 5 million shares of common stock.

Nearly all of the shares are being offered through investment funds affiliated with Freeman Spogli & Co. and certain other stockholders, a Pantry statement said.

It added that Freeman Spogli affiliated funds intended to sell stock representing about 25 percent of the Sanford, N.C-based chain.

The Pantry shares slid 4.17 percent, or 96 cents, to close at $22.04 on Nasdaq.