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Tuesday, May 24, 2022

How Does The Hillman Solutions (HLMN) Stock Price Decline By 12%?

Hillman Solutions Corp. (HLMN) shares have dropped -11.80% to $10.17 in Wednesday’s early tradings after announcing the pricing of an equity offering. Hillman Solutions (HLMN) stock added 0.96% to finish the last trading session at $11.53.

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What kind of offer has HLMN made?

Hillman Solutions (HLMN) announced today that the previously announced underwritten public offering of shares of the Company’s common stock (the “Offering”) by certain shareholders (the “Selling Stockholders”) has been increased in size and price.

  • The Offering was expanded from the previously announced 10,000,000 shares to a total of 13,000,000 shares of HLMN common stock, priced at $10.00 per share to the general public.
  • The Offering is projected to close on or around April 18, 2022, if all usual closing conditions are met.
  • The Selling Stockholders have also granted the underwriters a 30-day option to acquire up to 1,950,000 additional HLMN common stock shares at the public offering price, minus underwriting discounts and fees.
  • Hillman Solutions will not receive any revenues from the sale of the shares being offered by the Selling Stockholders, and the Offering comprises exclusively of shares of common stock to be sold by the Selling Stockholders.

Moreover, the following are chosen preliminary results from operations for the thirteen weeks ended March 26, 2022, as reported by HLMN yesterday.

Highlights from the First Quarter of 2022

  • HLMN’s net sales during the first quarter of 2022 grew to $363.0 million, up from $341.3 million in the quarter year before.
  • HLMN’s operating income increased to $8.8 million from $5.8 million in the previous-year quarter.
  • In the first quarter of 2022, adjusted EBITDA was $44.0 million, compared to $47.8 million in the prior-year period for HLMN.

When will the findings be presented by HLMN?

Hillman Solutions (HLMN) will announce its last first quarter 2022 earnings report before the U.S. stock market opens on Tuesday, May 3, 2022, and will hold a conference call and webcast presentation at 8:30 a.m. Eastern Time. The findings will be presented by HLMN’s Chairman, President, and Chief Executive Officer Doug Cahill and Chief Financial Officer Rocky Kraft.

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