Freshpet, Inc. (Nasdaq: FRPT), an American pet food company, has announced the pricing of its offering of US$350,000,000 aggregate principal amount of 3.00% convertible senior notes due 2028 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The issuance and sale of the notes are scheduled to settle on March 20, 2023, subject to customary closing conditions. Freshpet also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional US$52,500,000 principal amount of notes.
Latham & Watkins LLP represents the initial purchasers in the offering with a capital markets team led by partners Michael Benjamin, Greg Rodgers, Alison Haggerty, Andrew Blumenthal, and Reza Mojtabaee-Zamani, with associates Ryan Gold, Ian Lachow, Yulong Li, Christopher Yu, and Kevin Zhang. Advice was also provided on tax matters by partner Bora Bozkurt, with associate Ron Moore.