Hasbro, Inc. (NASDAQ: HAS) ("Hasbro") announced today the pricing of an underwritten registered public offering (the "Offering") of 9,210,527 shares of its common stock at a public offering price of $95.00 per share. Hasbro has granted the underwriters an option for 30 days to purchase up to an additional 1,381,579 shares of its common stock sold at the public offering price, less the underwriting discount. Subject to customary closing conditions, the Offering is expected to settle and close on or about November 8, 2019.
The net proceeds from the Offering will be approximately $848.75 million (or $976.06 million if the underwriters exercise their option to purchase additional shares as described above) after giving effect to the underwriting discounts but before giving effect to any offering expenses payable by Hasbro. Hasbro intends to use the net proceeds of the Offering to finance, in part, its proposed acquisition (the "Proposed Acquisition") of Entertainment One Ltd., and to pay related costs and expenses. The closing of the Offering is not conditioned upon the consummation of the Proposed Acquisition. If the Proposed Acquisition is not consummated, Hasbro intends to use the net proceeds of the Offering to repurchase its common stock or for general corporate purposes, which may include debt repayment, capital expenditures and investments.
BofA Securities, Inc., J.P. Morgan Securities LLC and Citigroup are acting as joint book-running managers for the Offering.