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Premium Brands ( (TSE:PBH) ) just unveiled an update.
Premium Brands Holdings Corporation has closed the over-allotment options related to its recent $600 million equity and convertible debenture offerings, issuing an additional 430,860 subscription receipts and $22.5 million in 5.50% convertible unsecured subordinated debentures, bringing total gross proceeds from the financing to approximately $665 million. The company plans to use the additional capital, together with its senior revolving credit facility, to help fund the acquisition of Stampede Culinary Partners, Inc. and to cover related transaction and offering expenses, while initially applying the debenture proceeds to reduce existing indebtedness and increase available liquidity for the deal.
The most recent analyst rating on (TSE:PBH) stock is a Buy with a C$120.00 price target. To see the full list of analyst forecasts on Premium Brands stock, see the TSE:PBH Stock Forecast page.
Spark’s Take on TSE:PBH Stock
According to Spark, TipRanks’ AI Analyst, TSE:PBH is a Neutral.
Premium Brands demonstrates strong revenue growth and positive technical indicators, but faces challenges with high leverage and cash flow constraints. The high P/E ratio suggests potential overvaluation, though the dividend yield provides some support. Recent corporate events and earnings call insights reflect optimism for future growth despite current margin pressures.
To see Spark’s full report on TSE:PBH stock, click here.
More about Premium Brands
Premium Brands Holdings Corporation is a Vancouver-based producer, marketer and distributor of branded specialty food products, operating a broad range of specialty food manufacturing and differentiated food distribution businesses across Canada, the United States and Italy.
Average Trading Volume: 144,505
Technical Sentiment Signal: Buy
Current Market Cap: C$4.47B
Find detailed analytics on PBH stock on TipRanks’ Stock Analysis page.