Blackhawk Network Holdings, Inc., a majority owned subsidiary of Safeway Inc. (SWY), said Thursday that it has priced its initial public offering of 10 million shares of Class A common stock at $23.00 per share, which is above its previously estimated range of $20 to $22 per share.
The shares are expected to begin trading on the NASDAQ Global Select Market on Friday, April 19 under the ticker symbol "HAWK."
The offering consists solely of shares offered by existing stockholders, including Safeway Inc. In addition, certain of the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1.5 million shares of Class A common stock at the initial public offering price.
The selling stockholders will receive all of the net proceeds from the offering.
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