Smithfield Foods Announces Launch of Secondary Offering of Common Stock
1. SFD announced a secondary public offering of 16 million shares. 2. Selling shareholder SFDS UK Holdings Limited will benefit, SFD will not receive proceeds. 3. Underwriters can purchase an additional 2.4 million shares within 30 days. 4. Morgan Stanley, BofA, and Barclays are leading the offering. 5. The offering is pending SEC registration and won't impact SFD's immediate liquidity.