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Wednesday, May 13, 2020 8:21:25 AM
The Chefs' Warehouse stock has recovered some in recent weeks, but shares are still down substantially in 2020.
CHEF Chart
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So what
The Chefs' Warehouse supplies food to small restaurants and caterers across North America. These food-service companies have been hit hard by the COVID-19 pandemic, as many dining rooms are closed. The company just reported earnings for the first quarter of 2020, and organic net sales fell 6.6% year over year. Most of the decline came in the last two weeks of the quarter.
The Chefs' Warehouse has $190 million in cash and $53 million untapped on its credit line to weather the storm. However, the company decided to raise fresh funds by offering new shares of common stock. The offering calls for an initial sale of $75 million in stock, with an option for an additional $11.25 million. The pricing is variable, making it hard to know exactly how many shares we're talking about. But at the current price of $14 per share, that would be over 6 million new shares if the option was exercised.
Considering there were 31 million shares as of April 1, that would be about a 19% increase in the number of shares outstanding. Loss of shareholder value is why this small-cap stock went down today
Recent CHEF News
- The Chefs’ Warehouse, Inc. to Participate in CL King’s 22nd Best Ideas Conference • GlobeNewswire Inc. • 09/03/2024 12:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/31/2024 11:32:05 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/31/2024 11:29:35 AM
- The Chefs’ Warehouse Reports Second Quarter 2024 Financial Results • GlobeNewswire Inc. • 07/31/2024 11:00:00 AM
- The Chefs’ Warehouse to Announce Second Quarter Results on July 31, 2024 • GlobeNewswire Inc. • 07/17/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/09/2024 12:33:31 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/08/2024 08:09:09 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/31/2024 09:24:46 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/28/2024 03:30:52 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 12:57:18 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 12:55:32 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 12:49:59 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 12:47:16 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 12:43:35 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 12:23:55 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 12:02:38 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/14/2024 08:43:03 PM
- The Chefs’ Warehouse Reports First Quarter 2024 Financial Results • GlobeNewswire Inc. • 05/01/2024 11:00:00 AM
- The Chefs’ Warehouse, Inc. to Participate in the BMO Global Farm to Market Conference • GlobeNewswire Inc. • 04/30/2024 12:00:00 PM
- The Chefs’ Warehouse to Announce First Quarter Results on May 1, 2024 • GlobeNewswire Inc. • 04/17/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 09:59:35 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 09:57:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 12:14:51 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 12:12:36 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 12:09:19 AM
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