Latham & Watkins Represents Initial Purchasers in Cracker Barrel’s US$275 Million Private Offering of Convertible Senior Notes

Capital markets team advises on the offering.

June 16, 2021

Cracker Barrel Old Country Store, Inc. has announced the pricing of its offering of US$275 million aggregate principal amount of 0.625% convertible senior notes due 2026 in a private offering only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. Cracker Barrel 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 notes are first issued, up to an additional US$25 million aggregate principal amount of notes in the private placement. The issuance and sale of the notes are scheduled to settle on or about June 18, 2021, subject to customary closing conditions.

Latham & Watkins LLP represents the initial purchasers in the offering, with a New York capital markets team led by partner Greg Rodgers, with associates Andrew Blumenthal, Will Clark, and Alexandra Kustra. Advice was also provided on equity derivatives matters by partner Catherine Lee, with associates Christopher Yu and Shawn Noh; and on tax matters by partner Bora Bozkurt, with associate Ron Moore.

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