Not long ago, rumors surfaced that Southeastern Grocers was considering the launch of an initial public offering (IPO). Now the grocer is moving forward with those plans, recently submitting a draft registration statement on Form S-1 with the Securities and Exchange Commission.
“The shares in the proposed offering are expected to be offered by existing stockholders of the company,” the company said in a statement. “This process will help enable the company to make the decision to become publicly traded, subject to market and other conditions.”
The brief news release detailing the IPO gave very few details. Southeastern Grocers did remark that the statement does not constitute an offer to sell or the solicitation of an offer to buy any securities.
As more details come to light surround Southeastern Grocers’ IPO, Deli Market News will be here to report.