Dole plc, a newly created company formed for the combination of Total Produce plc and Dole Food Company, Inc., announced on July 29, 2021 the pricing of its initial public offering of 25,000,000 ordinary shares at a price of $16.00 per share. The ordinary shares are being offered by Dole plc for total gross proceeds of $400 million, before deducting underwriting discounts and commissions and offering expenses. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 3,750,000 ordinary shares at the initial public offering price, less underwriting discounts and commissions. The shares began trading on the New York Stock Exchange on July 30, 2021 under the ticker symbol “DOLE”.
Goldman Sachs & Co. LLC, Deutsche Bank Securities and Davy are acting as lead book-running managers for the offering. BofA Securities, BMO Capital Markets and Rabo Securities are acting as book-running managers for the offering. Stephens Inc. is acting as co-manager for the offering.
A registration statement relating to the shares being sold in this offering was filed with the Securities and Exchange Commission and became effective on July 29, 2021. The offering is being made only by means of a prospectus filed with the SEC.
On 28 Jul 2021, there was an IPO Update, stating that waivers have been granted for Dole plc to proceed with its planned initial public offering (“IPO”) on the revised price range between $16.00 and $17.00 per share.
Another statement regarding the Implementation of Share Exchange and Dole Merger was issued on July 30, in which the board of Total Produce plc announced that the mandatory share exchange arrangement was implemented on 29 July 2021. As a result of the implementation, Dole plc acquired the entire issued share capital of the Company in exchange for the issue of new shares in Dole plc to the Total Produce Shareholders.
For more information: investors.totalproduce.com