GREELEY, Colo. — Pilgrim's Pride Corp. has announced that, in line with its strategic intent of strengthening its capital structure, it plans to commence a rights offering for up to approximately 44.44 million shares of common stock to its stockholders.
Under the expected rights offering, each stockholder of record would receive, at no charge, non-transferable rights to purchase shares of Pilgrim's Pride common stock at a subscription price of $4.50 per share, representing a 5 percent discount on the last 60 trading days' weighted average, for aggregate gross proceeds to the company of $200 million. Stockholders. . .
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