Tampa beverage company offers $150M in stock

TAMPA -- Cott Corp. wants to remove some of the obstacles in the way of expansion, and will do it by offering more than 16 million common shares.

The Tampa beverage company will offer the shares, at $9.25 per share, through underwriters CIBC and Barclays, according to a filing with the U.S. Securities and Exchange Commission. The primary offering is 14.1 million shares, but could expand another 2.1 million shares if CIBC and Barclays exercise an over-allotment option.

The sale would generate revenue between $130.4 million and $150 million, company executives say. While not sharing details, Cott added the sale would help eliminate “certain restrictions” the company has on pursuing strategic objectives, including acquisition or expansion opportunities.