BellRing Brands wavers as Post divests remaining stake

BellRing Brands

22/11/2022 14:25

** Shares of protein shake maker BellRing Brands  BRBR.N 
trading around the flat line premarket as secondary offering
prices
    ** Bellring late Mon announced sale of ~4.6 mln shares by
Post Holdings  POST.N   urn:newsml:reuters.com:*:nGNX2lnXxt
    ** Offering priced at $22.30, 4% discount to BRBR last sale,
sources say
    ** Cereal maker Post divests remaining 3.4% Bellring stake
in debt-for-equity exchange
    ** Bellring to concurrently repurchase 925,000 of deal
shares from underwriter group led by JP Morgan
    ** BRBR shares on Fri fell 9.5% after co reported rev of
$379 mln, below Refinitiv IBES est of $400 mln, citing capacity
constraints and supply chain issues, and as price rises for its
Premier Protein product were partially offset by volume declines
 urn:newsml:reuters.com:*:nGNX3XsGKc
    ** YTD, BRBR shares down ~18.5% through Mon close
    ** POST shares on Mon rose 4% to record high close of
$92.47. YTD, stock up 25%
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))