Smithfield Foods completes IPO of 26.1M shares at $20.00, nets $234.1M

SMITHFIELD FOODS INC

IPO closed Jan 29, 2025; 26,086,958 shares sold at $20.00/sh, with 13.0M secondary shares from sole shareholder.
Company received net proceeds of ~$234.1M after underwriting discounts and expenses.
Board and shareholder approved Omnibus Incentive Plan (19.7M shares reserved) and Employee Stock Purchase Plan (1.97M shares).
Underwriters have 30-day option to purchase up to 3,913,042 additional shares at the IPO price.

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