Initial Public Offering

Industrial
Initial Public Offering

Summary

Baird served as a passive book-running manager on this offering

About

Pactiv Evergreen Inc. (the “Company”) (NASDAQ: PTVE), recently completed an initial public offering of 41,026,000 common stock at a price of $14.00 per share, generating gross proceeds of approximately $574.4 million. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 6,153,900 shares at the public offering price, less the underwriting discount. The Company intends to use the net proceeds from the offering to repay outstanding borrowings as well as for general corporate purposes.

Pactiv Evergreen Inc. is a manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America and certain international markets. The Company supplies its products to a broad and diversified mix of companies, including full service restaurants and quick service restaurants, foodservice distributors, supermarkets, grocery and healthy eating retailers, other food stores, food and beverage producers, food packers and food processors. Pactiv Evergreen Inc. is headquartered in Lake Forest, Illinois.
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Industrial
Initial Public Offering
Date
September 2020
Company
Pactiv Evergreen Inc.
Transaction
M&A
Sectors
Industrial
Target Location
North America

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