Restaurant Brands International Inc. Launches New Share Offering
Restaurant Brands International Inc. ("RBI" or the "Company") (TSX: QSR) has announced a significant development regarding the pricing of a secondary offering of its common shares. This move aims to enhance its financial structure and provide growth opportunities within the quick service restaurant sector.
Details of the Share Offering
The offering consists of up to 17,626,570 common shares, which are being made available through HL1 17 LP, a Selling Shareholder affiliated with 3G Capital Partners Ltd. This initiative reflects a response to an exchange notice, involving the conversion of 17,626,570 Class B exchangeable limited partnership units of RBI Limited Partnership into common shares.
To facilitate this process, the Selling Shareholder has engaged in a forward sale agreement with BofA Securities, allowing the borrowing and selling of 9,785,784 common shares through an underwriter. Additionally, up to 7,840,786 shares may also be sold, depending on current investors' interests in purchasing these shares.
Settlement Expectations
Upon the completion of the share offering and the forward sale agreement, the Selling Shareholder will receive proceeds from the transaction, minus any underwriting fees. The settlement for the exchange is anticipated to take place by early December. Notably, RBI will not participate in selling these common shares nor receive any financial gains from the proceedings.
Role of BofA Securities
BofA Securities has been designated as the sole book-running manager for this offering. The firm is exploring various channels to offer these shares, including transactions on the New York Stock Exchange and in the over-the-counter market.
Closing Timelines
The anticipated closing date for this offering is November 17, 2025. However, parts of the offering may conclude prior to this date, contingent on standard closing conditions being met.
Effective Shelf Registration
This offering is conducted under an active shelf registration statement that has been approved by the U.S. Securities and Exchange Commission (SEC). A final prospectus supplement will be filed with the SEC, providing further details. Investors can expect additional information and guidance around this offering through contact with BofA Securities directly.
About Restaurant Brands International Inc.
Restaurant Brands International Inc. stands as one of the globe's largest quick-service restaurant companies, boasting over $45 billion in annual system-wide sales and a presence of over 32,000 restaurants across more than 120 countries. RBI is the proud owner of four iconic brands: TIM HORTONS, BURGER KING, POPEYES, and FIREHOUSE SUBS, each having their unique legacy in the industry. Through its Restaurant Brands for Good initiative, RBI strives to improve sustainability in its food practices and foster positive interactions with the planet and communities.
Frequently Asked Questions
What is the share offering amount announced by RBI?
RBI announced a share offering of up to 17,626,570 common shares.
Who is managing the offering?
BofA Securities is acting as the sole book-running manager for the offering.
Does RBI receive any proceeds from this offering?
No, RBI will not receive any proceeds from the sale of these common shares.
When is the expected closing date for this offering?
The offering is expected to close on November 17, 2025.
What brands does Restaurant Brands International own?
RBI owns TIM HORTONS, BURGER KING, POPEYES, and FIREHOUSE SUBS.
