8-KOther Events

ALTRIA GROUP, INC. 8-K Report (May 2, 2001)

Filed May 2, 2001For Securities:MO

Summary

This 8-K filing from Philip Morris Companies Inc. (now Altria Group, Inc.) on May 2, 2001, primarily serves to announce a significant development regarding its wholly-owned subsidiary, Kraft Foods Inc. Specifically, Kraft Foods Inc. filed Amendment No. 1 to its Registration Statement on Form S-1 with the SEC, signaling a major step towards its initial public offering (IPO). The IPO plans involve the offering of 280 million shares of Kraft Foods Inc. Class A common stock, with an additional 28 million shares available under an over-allotment option. The estimated price range for these shares is between $26.00 and $31.00 per share. This filing is an informational update for investors and stakeholders, highlighting the progression of Kraft Foods towards becoming a publicly traded entity, which could have implications for the parent company's future structure and financial strategy.

Key Highlights

  • 1Philip Morris Companies Inc. (now Altria Group) filed an 8-K on May 2, 2001.
  • 2The primary purpose of the filing is to report on the status of Kraft Foods Inc.'s IPO.
  • 3Kraft Foods Inc., a wholly-owned subsidiary, filed Amendment No. 1 to its Form S-1 Registration Statement.
  • 4The IPO plans include offering 280 million shares of Kraft Foods Class A common stock.
  • 5An additional 28 million shares are available under the underwriters' over-allotment option.
  • 6The estimated IPO price per share is between $26.00 and $31.00.
  • 7The filing serves as a notice of this event and does not constitute an offer to sell or a solicitation to buy.

Frequently Asked Questions

The main event reported is that Kraft Foods Inc., a subsidiary of Philip Morris Companies Inc. (now Altria Group), filed Amendment No. 1 to its Registration Statement on Form S-1 with the SEC, in preparation for its Initial Public Offering (IPO).

The IPO plans to offer 280 million shares of Kraft Foods Class A common stock, plus an additional 28 million shares subject to the underwriters' over-allotment option. The estimated price range is between $26.00 and $31.00 per share.

No, this filing indicates that an amended registration statement has been filed and is in the process of becoming effective. The securities cannot be sold until the registration statement is declared effective by the SEC.

As the parent company and sole owner of Kraft Foods Inc. at the time, Philip Morris Companies Inc. is required to disclose material events related to its significant subsidiaries, especially those that could impact the parent company's financial structure and future strategy, such as a major IPO.