Darden Restaurants Inc
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Consumer Discretionary : Hotels, Restaurants & Leisure | Mid Cap Value
Company profile

Darden Restaurants, Inc. is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company's segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V's Prime Seafood and Wildfish Seafood Grille (Eddie V's)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues). As of May 29, 2016, the Company also had 50 restaurants operated by independent third parties pursuant to area development and franchise agreements. Olive Garden's menu includes a range of authentic Italian foods featuring fresh ingredients and a selection of imported Italian wines. LongHorn Steakhouse restaurants feature a range of menu items, including fresh steaks and chicken, as well as salmon, shrimp, ribs, pork chops, burgers and prime rib.

Closing Price
$74.78
Day's Change
-1.33 (-1.75%)
Bid
--
Ask
--
B/A Size
--
Day's High
78.10
Day's Low
74.08
Volume
(Below Average)
Volume:
3,669,832

10-day average volume:
4,372,074
3,669,832

Darden Restaurants Announces Public Offering of Common Stock

4:26 pm ET April 20, 2020 (PR Newswire) Print

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 prospectus-ny@ny.email.gs.com, 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 dg.prospectus_request@bofa.com.

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.

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View original content:http://www.prnewswire.com/news-releases/darden-restaurants-announces-public-offering-of-common-stock-301043807.html

SOURCE Darden Restaurants, Inc.: Financial

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