Blue Buffalo Announces Closing of the Initial Public Offering of 38,942,220 Shares of Common Stock

Jul 27, 2015, 16:40 ET from Blue Buffalo Pet Products, Inc.

WILTON, Conn., July 27, 2015 /PRNewswire/ -- Blue Buffalo Pet Products, Inc. (NASDAQ: BUFF) ("Blue Buffalo") today announced the closing of the initial public offering of 38,942,220 shares of its common stock. The shares began trading on the Nasdaq Global Select Market on July 22, 2015, under the ticker symbol "BUFF".

Existing stockholders of Blue Buffalo sold 38,906,286 shares of common stock in the offering at an initial public offering price of $20.00 per share, including 5,074,732 shares of common stock pursuant to the full exercise of the underwriters' option to purchase additional shares. In addition, Blue Buffalo issued up to 35,934 shares to approximately 1,700 non-management employees at no cost to them.  

J.P. Morgan Securities LLC and Citigroup Global Markets Inc. acted as joint book-running managers for the offering and as representatives of the underwriters. Barclays Capital Inc., Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC also acted as joint book-running managers for the offering. Wells Fargo Securities, LLC and LOYAL3 Securities, Inc. acted as co-managers for the offering.

Up to 5% of the shares of common stock offered in the offering was reserved for sale, through a platform administered by LOYAL3, to individual investors so that they could have a chance to buy shares of Blue Buffalo at the same price and at the same time as institutional investors in the offering. The shares issued by Blue Buffalo to its non-management employees were also offered through the LOYAL3 platform.

The registration statement on Form S-1 relating to the offering was filed with the U.S. Securities and Exchange Commission and was declared effective.

The offering was made only by means of a prospectus. A copy of the prospectus related to the offering may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204; or Citigroup Global Markets Inc., c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, or by telephone at (800) 831-9146, or by email at prospectus@citi.com.

About Blue Buffalo

Blue Buffalo, based in Wilton, CT, is a natural pet products company that makes natural foods and treats for dogs and cats under the BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics and BLUE Freedom lines, and cat litter under the BLUE Naturally Fresh line.

Forward Looking Statements

The statements contained in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on Blue Buffalo's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in global, regional or local economic, business, competitive, market, regulatory and other factors, many of which are beyond Blue Buffalo's control. Any forward-looking statement in this release speaks only as of the date of this release. Blue Buffalo undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

SOURCE Blue Buffalo Pet Products, Inc.