Susser Closes Public Offering of Common Stock

Susser intends to use the net proceeds from this offering for growth capital for new store development.

Susser Holdings Corp. has closed its public offering of 3,500,000 shares of its common stock at a price of $21.75 per share.

Net proceeds from the sale of these shares were approximately $72 million, after deducting underwriting discounts and commissions and estimated offering expenses. Susser has granted the underwriters a 30-day option to purchase up to an additional 525,000 shares of common stock.      

Susser intends to use the net proceeds from this offering for growth capital for new store development and general corporate purposes, which may include opportunistic debt reduction, from time to time, based on market conditions.

BofA Merrill Lynch was the sole book-running manager for this offering.  BMO Capital Markets and Morgan Keegan acted as joint lead managers for the offering. RBC Capital Markets and Wells Fargo Securities acted as senior co-managers for the offering. Imperial Capital and Sidoti & Company LLC acted as co-managers for the offering.  

This announcement does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state.

Corpus Christi, Texas-based Susser Holdings Corp. is a third-generation family led business with approximately 1,100 company-operated or contracted locations.  The Company operates 539 convenience stores in Texas, New Mexico and Oklahoma under the Stripes banner.

 

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