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Darden Restaurants Announces Public Offering of Common Stock


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Darden Restaurants, Inc.: Financial

Apr 20, 2020, 16:25 ET

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ORLANDO, Fla., April 20, 2020 /PRNewswire/ -- Darden Restaurants, Inc. (NYSE: DRI) today announced that it has commenced an underwritten public offering of $400 million of shares of its common stock, without par value.  In addition, Darden expects to grant the underwriters an option to purchase up to an additional $60 million of shares of its common stock.  Darden intends to use the net proceeds from the offering for general corporate purposes.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute any offer, solicitation or sale in any jurisdiction in which such offer, solicitation, purchase or sale is unlawful.  The offering will be made pursuant to a shelf registration statement filed with the Securities Exchange Commission, which became automatically effective upon filing, by means of a prospectus and related prospectus supplement.

Goldman Sachs & Co. LLC and BofA Securities will act as joint book-running managers in connection with the offering.  Copies of the prospectus and the preliminary prospectus supplement relating to the offering may be obtained by contacting Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Attention: Prospectus Department, by telephone at (866) 471-2526, or by email at [email protected], or by contacting BofA Securities, NCI-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, or by email at [email protected].

About Darden

Darden is a restaurant company featuring a portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V's.

Information About Forward-Looking Statements

Forward-looking statements in this communication are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements speak only as of the date on which such statements are first made, and we undertake no obligation to update such statements to reflect events or circumstances arising after such date. We wish to caution investors not to place undue reliance on any such forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties that could cause actual results to materially differ from those anticipated in the statements. The most significant of these uncertainties are described in Darden's Annual Report on Form 10-K for the fiscal year ended May 26, 2019, Darden's Form 10-Q and Form 8-K reports and Darden's other filings with the Securities and Exchange Commission.

SOURCE Darden Restaurants, Inc.: Financial

Related Links

http://www.Darden.com

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