Darling Int'l. Prices 40 Mln Shares Offering At $19/Shr - Quick Facts

(RTTNews) - Food waste recycling company Darling International Inc. (DAR) said its underwritten public offering of 40 million common shares was priced at $19.00 per share. Further, the underwriters were granted a 30-day option to buy up to 6.0 million additional shares of Darling. The offering may close on December 18, 2013.

The company plans to use the net proceeds of the offering to pay a portion of the consideration for the prior announced acquisition of the VION Ingredients division of VION Holding N.V., which is likely to close in January 2014, subject to the fulfillment of certain conditions, and related fees and expenses, or for general corporate purposes if the acquisition is not completed.

Goldman, Sachs & Co., J.P. Morgan and BMO Capital Markets are serving as joint book-running managers for the offering and Avondale Partners is serving as co-manager.