Blue Buffalo files for initial public offering
IPO could reach up to $500 million
Blue Buffalo Pet Products Inc. has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock.
The total number of shares to be offered and the price range for the proposed offering have not yet been determined, but reports say the company could raise up to $500 million. Blue Buffalo has applied to list its common stock on the NASDAQ Global Select Market under the symbol BUFF.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Barclays Capital Inc., Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC are acting as joint book-running managers for the proposed offering. Wells Fargo Securities, LLC and LOYAL3 Securities Inc. are acting as co-managers for the proposed offering.
The shares of common stock to be sold in the offering will be sold by existing stockholders of Blue Buffalo. A portion of such shares will be reserved for sale, through a platform administered by LOYAL3, to individual investors so that they can have a chance to buy shares of Blue Buffalo at the same price and at the same time as institutional investors in the offering. The offering will also include shares to be issued by Blue Buffalo to approximately 1,600 non-management employees at no cost to them, which will also be offered through the LOYAL3 platform.
A registration statement on Form S-1 relating to the proposed offering has been filed with the Commission but has not yet become effective. The shares to be registered may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.