CORPUS CHRISTI, Texas -- As expected, Susser Holdings Corp. announced yesterday the pricing of its initial public offering (IPO) of 6.5 million shares of its common stock at a price to the public of $16.50 per share.
All of the shares to be sold in the offering are to be sold by Susser Holdings, and the net proceeds of this offering will be used to redeem a portion of its outstanding senior notes, repay outstanding revolving indebtedness and for general corporate purposes, including growth capital.
The shares will trade on The [image-nocss] NASDAQ Global Market under the symbol SUSS and began trading on Oct. 19, 2006.
Susser Holdings has granted the underwriters an option to purchase an additional 975,000 shares of common stock at the IPO price to cover overallotments, if any. The offering is expected to close on Oct. 24, 2006.
The offering is being made through an underwriting syndicate led by Merrill Lynch & Co., as sole book running manager for the offering, and J.P. Morgan Securities Inc., Jefferies & Co. Inc. and Morgan Keegan & Co. Inc., as co-managers.
Corpus Christi, Texas-based Susser Holdings operates more than 320 retail convenience stores in Texas and Oklahoma and more than 340 branded dealer units through its wholesale fuel division.
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