Susser Stock Offering Update

Wellspring secondary option underwriters buy additional shares

Published in CSP Daily News

CORPUS CHRISTI, Texas -- Susser Holdings Corp. has announced that the underwriters of a recent secondary offering of Susser Holdings common stock by affiliates of Wellspring Capital Management have exercised their additional purchase option, purchasing 750,000 shares of common stock at the public offering price of $36 per share.

Last month, Wellspring sold five million shares of its Susser Holdings common stock through an underwritten public offering. After the latest sale of an additional 750,000 shares, related to the exercise of the purchase option held by the underwriters, Wellspring currently holds 854,882 shares of Susser Holdings common stock, representing 4.1% of the outstanding shares.

Susser did not receive any proceeds from the offering, and its total number of shares outstanding--which was 20,956,237 as of July 1, 2012--did not change as a result of the offering or the underwriters' exercise of their option to purchase additional shares.

BofA Merrill Lynch, Jefferies and BMO Capital Markets are the joint book-running managers for this offering.

Corpus Christi, Texas-based Susser is a third-generation, family-led business with approximately 1,100 company-operated or contracted locations. It operates approximately 545 convenience stores in Texas, New Mexico and Oklahoma under the Stripes banner. Restaurant service is available in more than 335 of its stores, primarily under the proprietary Laredo Taco Co. brand. The Company also supplies branded motor fuel to approximately 565 independent dealers through its wholesale fuel division.