Annie's shareholders selling 3.2M shares

Annie's shareholders selling 3.2M shares at discount, in first stock offering since IPO

Associated Press

BERKELEY, Calif. (AP) -- Natural and organic food company Annie's Inc. said Wednesday it priced an offering of 3.2 million shares at $39.25 per share, the first stock offering since the company went public in March.

Wednesday's price is a discount of nearly 4 percent to the stock's closing price Tuesday of $40.75.

Annie's initial public stock offering of 5.7 million shares priced the stock at $19. Shares closed up 89 percent in Annie's market debut at $35.92.

Shares fell 75 cents, or 1.8 percent, to $40 in afternoon trading Wednesday.

Best known for its signature macaroni and cheese with pasta shaped like rabbits, Annie's makes about 125 organic and natural food products. Its focus is catering to mothers who are willing to spend more for what they consider healthier versions of snacks and staples.

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