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Annie's, Inc. Prices Initial Public Offering

BERKELEY, Calif., March 28, 2012 /PRNewswire/ -- Annie's, Inc. ("Annie's") announced today the pricing of its initial public offering of 5.0 million shares of common stock at a price to the public of $19.00 per share. The common stock is expected to begin trading on the New York Stock Exchange on March 28, 2012 under the ticker symbol "BNNY."

A total of 950,000 shares are being offered by Annie's and 4,050,000 shares are being offered by selling stockholders. In addition, certain selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 750,000 shares to cover over-allotments, if any. Annie's will not receive any proceeds from the sale of shares by the selling stockholders.

Annie's expects to receive net proceeds, after deducting the underwriting discount and estimated offering expenses payable by Annie's, of approximately $11.6 million. Annie's intends to use the net proceeds to pay $1.3 million in connection with the termination of its advisory services agreement and repay a portion of its indebtedness under its credit facility.

Credit Suisse Securities ( USA) LLC and J.P. Morgan Securities LLC are acting as joint book-running managers, with William Blair & Company, L.L.C.; RBC Capital Markets, LLC; Stifel, Nicolaus & Company, Incorporated; and Canaccord Genuity Inc. acting as co-managers for the offering.

The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from Credit Suisse Securities ( USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, by telephone at +1 (800) 221-1037 or by email at newyork.prospectus@credit-suisse.com; or from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at +1 (866) 803-9204.

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

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