Item 8.01. Other Events.
On May 3, 2022, Freshpet, Inc. (the "Company") entered into an underwriting
agreement (the "Underwriting Agreement") with BofA Securities, Inc., Jefferies
LLC and Truist Securities, Inc., as representatives of the several underwriters
named in Schedule I thereto (the "Underwriters"), to issue and sell 4,320,988
shares of its common stock (or 4,969,136 shares if the Underwriters exercise
their option in full). The transaction closed on May 6, 2022, with the
Underwriters purchasing 4,320,988 shares from the Company, with net proceeds to
the Company (excluding offering expenses) of approximately $337.75 million. The
shares were issued and sold pursuant to the Company's registration statement on
Form S-3 (File No. 333-236614), filed with the SEC on February 25, 2020, the
base prospectus therein and the accompanying prospectus supplement, dated May 3,
2022. Pursuant to the Underwriting Agreement, the Company agreed to indemnify
the Underwriters against certain liabilities, including liabilities under the
Securities Act of 1933, as amended, or to contribute to payments the
Underwriters may be required to make in respect of those liabilities.
The Company intends to use the net proceeds from the offering for general
corporate purposes. General corporate purposes may include capital expenditures,
including funding the continued development of its Freshpet Kitchens South and
Freshpet Kitchens Ennis, additions to working capital, investments in its
subsidiaries, and repayment of indebtedness, among other things.
The foregoing description of the Underwriting Agreement is qualified in its
entirety by reference to the full text of the Underwriting Agreement, which is
filed as Exhibit 1.1 to this current report and incorporated herein by
reference.
Kirkland and Ellis LLP has issued an opinion, dated May 6, 2022, to the Company
regarding certain legal matters with respect to the offering of the shares of
common stock, a copy of which is filed as Exhibit 5.1 hereto.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description of Exhibit
Underwriting Agreement, dated May 3, 2022, by and among Freshpet, Inc.
1.1 and BofA Securities Inc., Jefferies LLC and Truist Securities, Inc., as
representatives of the underwriters.
5.1 Opinion of Kirkland & Ellis LLP.
23.1 Consent of Kirkland & Ellis LLP (included in Exhibit 5.1).
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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