AdvancePierre Foods Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Common Stock

CINCINNATI--(BUSINESS WIRE)--AdvancePierre Foods Holdings, Inc. (NYSE:APFH) (“AdvancePierre”), a leading national producer and distributor of sandwiches, sandwich components and other entrées and snacks, today announced the closing of its previously announced initial public offering of 21,390,000 shares of its common stock at $21.00 per share. AdvancePierre sold 11,090,000 shares of common stock and the selling stockholders sold 10,300,000 shares of common stock, including 2,790,000 shares of common stock pursuant to the full exercise by the underwriters of their option to purchase additional common stock from the selling stockholders at the initial public offering price, less underwriting discounts and commissions. The net proceeds received by AdvancePierre were $218,916,600, after deducting underwriting discounts and commissions and before offering expenses payable by AdvancePierre. As previously announced, AdvancePierre intends to use the net proceeds from the offering to repay a portion of its first lien term loan. AdvancePierre did not receive any of the proceeds from the sale of shares of its common stock by the selling stockholders.