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Grocery Outlet Holding Corp. Announces IPO Price

Grocery Outlet Holding

Grocery Outlet Holding Corp.  in Emeryville, California, announced the pricing of its initial public offering of 17,187,500 shares of its common stock at $22 per share. Shares of Grocery Outlet’s common stock are expected to begin trading on The Nasdaq Global Select Market on June 20 under the symbol “GO,” and the offering is expected to close on June 24, subject to customary closing conditions. Grocery Outlet has granted the underwriters a 30-day option to purchase up to an additional 2,578,125 shares of its common stock at the initial public offering price less the underwriting discount.

Grocery Outlet intends to use the net proceeds from the offering to repay the term loan outstanding under its second lien credit agreement and any remainder to repay a portion of the term loan outstanding under its first lien credit agreement.

The offering is being made through an underwriting group led by BofA Merrill Lynch, Morgan Stanley, Deutsche Bank Securities, Jefferies, Barclays, Goldman Sachs & Co. LLC, Guggenheim Securities, UBS Investment Bank and Cowen, who are acting as joint book-running managers for the offering. Telsey Advisory Group, Drexel Hamilton and Penserra Securities LLC are acting as co-managers.

A registration statement on Form S-1, including a prospectus, relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Grocery Outlet is a retailer of name-brand consumables and fresh products sold through a network of independently operated stores. Grocery Outlet has more than 300 stores in California, Idaho, Nevada, Oregon, Pennsylvania and Washington.

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