Summary
Burlington Stores, Inc. filed this Form 8-K on October 10, 2014, to report on a material definitive agreement related to a secondary offering of its common stock. Specifically, on October 6, 2014, the Company entered into an Underwriting Agreement with J.P. Morgan Securities LLC and certain Selling Stockholders. This agreement facilitated the sale of 8,000,000 shares of Burlington Stores' common stock by the Selling Stockholders to the Underwriter at a price of $38.10 per share. The offering closed on October 10, 2014. The filing also includes a press release announcing this secondary offering and incorporates the Underwriting Agreement by reference into the Company's shelf registration statement.
Key Highlights
- 1Burlington Stores, Inc. engaged in a secondary offering of 8,000,000 shares of its common stock.
- 2The offering was conducted via an Underwriting Agreement with J.P. Morgan Securities LLC as the underwriter.
- 3The Selling Stockholders sold their shares at a price of $38.10 per share.
- 4The transaction was a secondary offering, meaning existing shareholders sold their shares, not the company issuing new shares.
- 5The offering closed on October 10, 2014, indicating a relatively quick execution.
- 6The company's shelf registration statement on Form S-3 (File No. 333-199176) was utilized for this offering.
- 7The filing includes a press release announcing the secondary offering and the Underwriting Agreement as exhibits.
Frequently Asked Questions
The primary purpose of this 8-K filing was to report the entry into a material definitive agreement, specifically the Underwriting Agreement for a secondary offering of Burlington Stores' common stock.
No, this was a secondary offering. The 8,000,000 shares of common stock were sold by existing Selling Stockholders, not issued by Burlington Stores itself.
The Selling Stockholders agreed to sell their shares to the Underwriter at a price of $38.10 per share.
J.P. Morgan Securities LLC acted as the underwriter for this secondary offering.