Seaboard repurchases 189,724 shares from Bresky affiliates at $3,162.50/share, 13.5% discount to closing price

SEABOARD CORP /DE/

Total repurchase of 189,724 shares for $600M at $3,162.50 per share; shares retired.
Price represents 13.5% discount to Oct 6 close and 15.7% discount to 180-day VWAP.
Funded by cash on hand, sale of marketable securities, and draw on credit facilities.
Special committee of independent directors approved; Kroll provided fairness opinion.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SEABOARD CORP /DE/ entered into Stock Repurchase Agreements with Seaboard Flour LLC, SFC Preferred, LLC, and REP23 LLC (collectively, the Sellers) valued at $600,002,150 (effective 2023-10-09).

Action: entry
Agreement: equity purchase
Counterparty: Seaboard Flour LLC, SFC Preferred, LLC, and REP23 LLC (collectively, the Sellers)
Value: $600,002,150
Effective: 2023-10-09

Exact text from the filing

On October 9, 2023, Seaboard Corporation (the “ Company ”) entered into three Stock Repurchase Agreements (the “ Repurchase Agreements ”), with the following three separate counterparties: Seaboard Flour LLC, SFC Preferred, LLC, and REP23 LLC (collectively, the “ Sellers ”).

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SEABOARD CORP /DE/ filing history →

Source: SEC EDGAR

accession 0001104659-23-108293

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