BellRing Brands Prices Equity Offering Of Shares Held By Former Parent At 9.6% Discount

• BellRing Brands Inc (NYSE: BRBR) has priced its underwritten offering of shares owned by its former parent company, Post Holdings, Inc. (NYSE: POST), at $23.50 per share.

• The offer price represents a 9.6% discount to the company’s closing price on August 8, 2022.

• The offering was upsized from 10.8 million shares to 14.8 million shares.

• Post expects to exchange shares of BellRing for certain indebtedness of Post held by J.P. Morgan Securities LLC, Barclays Bank PLC, Citicorp North America, Inc, Goldman Sachs Lending Partners LLC, and Morgan Stanley & Co LLC before the closing of the offering.

• BellRing will not sell any shares of its common stock and will not receive any proceeds.

• The offering is expected to close on August 11, 2022.

• After the completion of the offering, Post will own 4.5 million shares of BellRing.

• BellRing intends to concurrently repurchase from the underwriters 800,000 shares out of the aggregate 14.8 million shares offered.

• Price Action: BRBR shares are trading lower by 7.66% at $24.00 in premarket on the last check Tuesday.

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