B&G Foods has filed a universal shelf registration statement with the US Securities and Exchange Commission to allow it to offer and sell securities up to US$600m.
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Upon being declared effective by the SEC, the shelf registration, filed yesterday (2 July) will allow B&G the flexibility to offer and sell from time to time up to US$600m of common stock, preferred stock, debt securities, warrants, enhanced income securities or any combination in one or more future public offerings.
The actual amount and type of securities, or combination of securities, and the terms of those securities, will be determined at the time of sale.
CEO David Wenner said: “We have filed a universal shelf registration statement because it is a practical and efficient way to access the public markets. Although we currently have no specific plans to issue securities, filing the shelf registration statement is consistent with our announced acquisition and growth strategy and positions us to move quickly to take advantage of acquisition, financing and other business opportunities when and if such opportunities arise.”
In April, the salad dressings-to-seasonings maker upped its profit forecast for 2009 after price increases boosted first-quarter earnings.
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By GlobalDataThe company, which makes a range of products including hot cereals, marinades and maple syrup, booked a 17.2% rise in EBITDA to US$27.4m for the three months to 4 April.
