secwatch.observer — SEC 8-K summary
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Issuer:     Portillo's Inc. (PTLO)
CIK:        0001871509
Form:       8-K
Filed at:   2022-11-17T23:59:59+00:00
Accession:  0001193125-22-287675
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Portillo's repurchases $181.5M in shares/units from selling stockholders at $22.69 each in secondary offering
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- Agreement with Berkshire Partners affiliates and other selling stockholders to buy shares and LLC units using proceeds from secondary offering of 8,000,000 shares.
- Price per share/unit was $22.69, equal to underwriter purchase price; aggregate purchase price approximately $181.5 million.
- Underwriters BofA Securities and Jefferies have 30-day option for up to 1,200,000 additional shares.
- Transactions reduce selling stockholders' post-offering interests; Class B shares retired and canceled.
- Offering closed November 17, 2022; stock unit and purchase agreement dated November 11, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1871509/000119312522287675/0001193125-22-287675-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1871509/000119312522287675/d392763d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-287675

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