TAMPA, Fla. (AP) -- Bloomin' Brands Inc., the parent company of Outback Steakhouse, Carrabba's Italian Grill and Bonefish Grill, on Thursday priced its secondary offering of 19 million shares of its stock at $21.50 per share.
The shares are being sold by certain stockholders. Bloomin' Brands will not receive any proceeds from the offering.
Bloomin' Brands, based in Tampa, Fla., said the offering is expected to close May 29. Underwriters have the option to buy up to 2.85 million additional shares to cover overallotments.
The company has an estimated 123 million shares outstanding.
Shares of the company increased 47 cents, more than 2 percent, to $21.99 by midmorning. The shares have nearly doubled from their $11 initial public offering price from last August.