The Green Bay Packers’ fifth stock offering, which ended Feb. 29, was a tremendous success with the organization adding more than 250,000 new shareholders, the team reported Thursday.
While exact totals are not available at this time, more than 268,000 shares were sold during the offering that began Dec. 6, 2011. Including previous offerings, the organization now has more than 360,000 shareholders.
“The response to the offering by our fans was overwhelming,” said Packers President/CEO Mark Murphy. “We enthusiastically welcome our new shareholders from across the country and Canada, as well. We thank them for their support of the stadium expansion that will help us achieve success in the long term, and provide an enhanced gameday experience that will continue to thrill our guests.”
Proceeds from the offering, approximately $67 million, will go toward the expansion of Lambeau Field, a $143 million project that includes 6,700 seats, new video boards and two new gates, and will be fully complete for the 2013 season. A traditional loan also will finance the project, and the team may also obtain funding from the NFL and the stadium district’s user fee program.
An initial look at the new shareholders shows that Wisconsin fans purchased approximately 50 percent of the shares in the recently completed offering. Next in order were Illinois (8.5 percent), California (8.5 percent), Minnesota (5 percent) and Texas (5 percent). In Canada, Packers fans responded by purchasing approximately 2,000 shares.
For new shareholders who have questions about their orders, Wells Fargo Shareowner Services is available at 800-891-2981, Monday through Friday from 7 a.m. to 7 p.m., CST.