Sprouts Farmers Market Completes IPO

(RTTNews) - Sprouts Farmers Market, Inc. (SFM) said Tuesday that it has completed its initial public offering of 21.275 million shares of common stock, including 2.775 million shares of common stock issued as a result of the exercise in full of the underwriters' option to purchase additional shares, at a price of $18.00 per share.

The company sold about 20.5 million shares of common stock, including the additional shares, and certain stockholders sold the remaining 797,785 shares.

The company received net proceeds from the offering of about $344 million, after deducting underwriting discounts and offering expenses.

The company plans to use the net proceeds received from the sale of its shares to repay $340 million of outstanding indebtedness under its term loan facility and for general corporate purposes.