Portillo's Announces Pricing Of Public Offering Of 8 Mln Shares

(RTTNews) - Portillo's Inc. (PTLO) announced the pricing of its underwritten public offering of 8 million shares of its Class A common stock .

The company expects gross proceeds of approximately $116 million from the offering, assuming the underwriters do not exercise their option to purchase additional shares.

The offering is expected to close on March 4, 2024.

The underwriter has a 30-day option to purchase up to an additional 1,200,000 shares of Class A common stock at the public offering price, less underwriting discounts and commissions.

PTLO closed Wednesday's regular trading at $15.37 down $0.53 or 3.33%. In the after-hours, the stock further dropped $0.86 or 5.60%.