Shearman & Sterling advised The Chefs’ Warehouse, Inc., as issuer, on its registered underwritten public offering of 5,769,231 shares of its common stock and subsequent closing for 865,384 additional shares of common stock pursuant to the underwriters’ option to purchase additional shares. The company sold the shares, at a price of $13.00 per share to the underwriters, to be reoffered by the underwriters at variable prices.
In addition to adding liquidity to the balance sheet, the company intends to use the proceeds from the offering for general corporate purposes, which may include, among other things, working capital, repayment of outstanding debt and opportunistic investment in sales and distribution infrastructure.
The Chefs’ Warehouse, Inc. is a premier distributor of specialty food products in the United States and Canada focused on serving the specific needs of chefs who own and/or operate some of the nation's leading menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos and specialty food stores.
The Shearman & Sterling team below also included associate Nauka Patel.