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WORTHINGTON FOODS FILES INITIAL PUBLIC OFFERING OF 1,750,000 COMMON SHARES WITH SEC

 WORTHINGTON FOODS FILES INITIAL PUBLIC OFFERING
 OF 1,750,000 COMMON SHARES WITH SEC
 WORTHINGTON, Ohio, Feb. 26 /PRNewswire/ -- Worthington Foods, Inc., announced today that it has filed a registration statement with the Securities and Exchange Commission covering a proposed initial public offering of 1,750,000 common shares.
 Of the total, 1,410,000 shares are being offered by the company and 340,000 by selling shareholders. The underwriters have an option to purchase an additional 262,500 shares to cover over-allotments.
 William Blair & Company and the Ohio Company will co-manage the underwriting group. The offering is expected to have a price range of $11 to $13 per share.
 Proceeds to the company will be used primarily to repay debt and to expand production capacity through the completion of a food production plant in Zanesville, Ohio.
 Headquartered in Worthington, Worthington Foods, Inc., develops, produces and markets nationwide a broad range of high-quality, zero cholesterol vegetarian and egg substitute food products for consumers seeking healthful food choices. The company's principal products are meat alternatives, made from soy and wheat proteins which simulate the taste and texture of meat, poultry and fish, and frozen and refrigerated egg substitutes, made from liquid egg whites.
 -0- 2/26/92
 /CONTACT: William Kirkwood, VP-finance of Worthington Foods, 614-885-9511; Michelle L. Collins of William Blair & Company, 312-236-1600; or Jeff Manecke of the Ohio Company, 614-464-6811/ CO: Worthington Foods, Inc. ST: Ohio IN: FOD SU: OFR


GK-CK -- NY029 -- 2730 02/26/92 10:45 EST
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Publication:PR Newswire
Date:Feb 26, 1992
Words:249
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