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Smithfield Foods Announces Pricing of Upsized Secondary Offering of Common Stock

1. Smithfield Foods announced a secondary offering of 19.5 million shares. 2. Shares priced at $23.25; underwriters granted an option for more shares. 3. Company won't receive proceeds from the secondary offering. 4. The offering closes on September 8, 2025, subject to conditions. 5. Major investment banks are managing the offering.

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FAQ

Why Bearish?

Secondary stock offerings often dilute existing shares, leading to bearish sentiment. Historical cases show share prices can decline post-offering, reflecting investor caution.

How important is it?

The secondary offering is significant as it changes market dynamics and may affect investor behavior. A drop in price post-offering could be expected, altering demand.

Why Short Term?

The impact is immediate due to stock dilution effects on investors' perception. Similar past offerings have seen quick reactions in stock performance.

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SFD
SMITHFIELD, Va., Sept. 04, 2025 (GLOBE NEWSWIRE) -- Smithfield Foods, Inc. (Nasdaq: SFD) (the “Company”), an American food company and an industry leader in value-added packaged meats and fresh pork, today announced the pricing of a secondary public offering of 19,531,698 shares of common stock of the Company sold by SFDS UK Holdings Limited, the principal shareholder of the Company, at a price to the public of $23.25 per share. In addition, the selling shareholder has granted the underwriters a 30-day option to purchase up to 2,929,754 additional shares of the Company’s common stock at the public offering price, less underwriting discounts and commissions. The Company is not selling any shares of common stock in the offering and will not receive any proceeds from the sale of the shares by the selling shareholder, including from any exercise by the underwriters of their option to purchase additional shares. The offering is expected to close on September 8, 2025, subject to customary closing conditions. Morgan Stanley, BofA Securities and Barclays are acting as joint lead book-running managers for the proposed offering. Goldman Sachs & Co. LLC, Citigroup and BNP Paribas are acting as joint book-running managers. A registration statement, including a prospectus, relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the “SEC”). The offering is being made only by means of a prospectus. Copies of the final prospectus related to this offering, when available, may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. The prospectus relating to the proposed offering may also be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, by email at dg.prospectus_requests@bofa.com; and Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would not be permitted. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release, including statements regarding the proposed offering, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “shall,” “should,” “expects,” “plans,” “anticipates,” “intends,” “projects,” “contemplates,” “believes,” or “estimates” or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, the results, events and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements. We undertake no duty to update any statement made in this press release in light of new information or future events. The forward-looking statements contained in this press release are subject to substantial risks and uncertainties that could affect our current expectations and our actual results. A detailed discussion of these uncertainties and risks that affect our business is contained in our SEC filings, including our reports on Form 10-K and Form 10-Q, particularly under the heading “Risk Factors.” About Smithfield FoodsSmithfield Foods, Inc. (Nasdaq: SFD) is an American food company with a leading position in packaged meats and fresh pork products. With a diverse brand portfolio and strong relationships with U.S. farmers and customers, we responsibly meet demand for quality protein around the world. Investor Contact:Julie MacMedanEmail: ir@smithfield.com Media Contact: Ray Atkinson Email: ratkinson@smithfield.comCell: 757.576.1383

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