NEW YORK, April 2, 2014: Sprouts Farmers Market, Inc. today announced the closing of the public offering of 17,250,000 shares of common stock, including 2,250,000 shares of common stock issued as a result of the exercise in full of the underwriters' option to purchase additional shares, by affiliates of Apollo Global Management, LLC and certain other stockholders of the Company, at a public offering price of $33.75 per share. The selling stockholders received all of the proceeds from the offering.
Phoenix-based Sprouts Farmers Market is a specialty retailer of fresh, natural and organic foods operating more than 170 stores in nine states.
Morgan Lewis served as Sprouts Farmers Market’s legal adviser on the offering. The Morgan Lewis team was led by Business and Finance Practice partner Howard Kenny and included associates Jeffrey Letalien, Daniel Palmadesso, Whitney Montgomery, and Daniel Landy. Morgan Lewis had previously advised Sprouts on its in initial public offering, which had closed in August 2013, and advised Sprouts on a public offering of 19,550,000 shares of common stock, which had closed in December 2013. Please see the firm’s press releases about the initial public offering and the December 2013 public offering.