Bloomin' Brands (NASDAQ:BLMN) will see its ownership structure change after a $400 million-plus secondary public stock offering is completed. The company announced that "certain stockholders" in the firm are offering 19 million common shares for sale at $21.50 apiece in the underwritten issue. Additionally, the underwriters have been granted a 30-day option to purchase an additional 2.85 million shares from certain offering parties.
The joint book-running managers of the sale are Bank of America's Merrill Lynch, Morgan Stanley, JPMorgan Chase's J.P. Morgan Securities, Goldman Sachs, and the Securities arm of Deutsche Bank. The offering is expected to close on May 29.
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