Smithfield Foods, Inc. (SFD) said Monday that it has commenced an underwritten registered public offering of $250 million of shares of its common stock.
The company also said it plans to grant the underwriters a 30-day option to purchase up to an additional 15% of the offered amount of common stock to cover over-allotments, if any.
Smithfield said it plans to use the net proceeds from the offering for working capital and general corporate purposes, with a goal of continuing to strengthen its balance sheet, which may include the retirement of debt.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.