Three-Quarters of 250,000 Available Shares Sold In First 48 Hours
Green Bay Packers fans have responded enthusiastically to the organization's fifth stock offering by purchasing more than 185,000 shares in the first two days, Packers President/CEO Mark Murphy reported Thursday.
Proceeds from the offering, approximately $43 million as of Thursday morning, will go toward the expansion of Lambeau Field, a $143 million project that includes 6,700 seats and new video boards, and will be complete for the 2013 season.
"The Packers are tremendously appreciative of the support we've received from our fans," said Murphy. "The expansion will enhance the stadium experience for fans, increase our team's home-field advantage and ensures that Lambeau Field continues be a source of pride for fans everywhere. We're humbled by the response from our fans and their desire to help the Packers achieve long-term success."
Residents of all 50 states and three U.S. territories have already purchased in the offering, with Wisconsin leading the way.
The offering document and purchasing information are available online at www.packersowner.com. Fans interested in purchasing shares are encouraged to go online to view the document and make a purchase, as it is the most efficient method. Credit and debit cards (Visa, MasterCard and American Express) can be used online. For those without internet access, a toll-free number – 855 8-GO PACK (855-846-7225) – is available to request the offering document by mail for transactions to then be completed by mail.
The organization previously had offerings in 1923, '35, '50 and '97. The first three literally saved the franchise from bankruptcy, and proceeds from the fourth went toward the redevelopment of Lambeau Field, which was complete in 2003.
Following is a list of offering details:
The price per share is $250, with a $25 handling charge per transaction (no matter how many shares are purchased).
Currently, the offering is limited to persons in the United States, as well as Guam, Puerto Rico and the U.S. Virgin Islands.
Shares can be purchased online with credit or debit cards, and also via mail.
There remains a means for purchasers to receive delivery of certificates by Dec. 24.
Only individuals (including spouses as joint tenants) are able to purchase shares; individuals can purchase shares as a gift for other individuals.
The Packers are initially offering 250,000 shares.
No one may buy more than 200 shares (counting any shares that the person purchased in the 1997-1998 offering).
The offering will continue until Feb. 29, 2012, subject to extension, unless prior to that date the Packers sell the maximum number of shares that they are offering.
Interested fans should note:
Stock in the Packers does not constitute an investment in "stock" in the common sense of the term.
The Packers have no obligation to repay the amount a buyer pays to purchase Packers stock.
Anyone considering the purchase of Packers stock should not purchase the stock to make a profit or to receive a dividend or tax deduction or any other economic benefits.
The offering of Packers stock is made only through the offering document.
The Packers believe offerees and purchasers of Packers stock will not receive the protection of securities laws with respect to any offering or sale of Packers stock.
The Packers bylaws and NFL rules severely restrict transfers of Packers stock.