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Bemis Co. files prospectus to generate capital

September 7, 2016 Updated 9/7/2016

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Bemis Co. files prospectus to generate capital

Bemis Co. Inc. is opening up the potential to raise additional money, according to a new filing with the U.S. Securities and Exchange Commission.

The Neenah, Wis.-based flexible packaging company has filed paperwork with the government indicating it is contemplating a number of options, including the issuance of common stock, preferred stock or debt.

The preliminary paperwork does not indicate any timeframe in which the company might take action.

“Each time securities are sold using this prospectus, we will provide a supplement to this prospectus and possibly other offering material containing specific information about the offering and the terms of the securities being sold, including the offering price,” Bemis indicated in its filing.

Details in the current prospectus also could change, the company said.

Along with stock and debt, the prospectus indicated Bemis also could consider depositary shares, warrants, stock purchase contracts and stock purchase units.

“We may offer and sell these securities to or through underwriters, dealers or agents, or directly to investors, on a continued or a delayed basis. Each applicable prospectus supplement to this prospectus and/or other offering material will provide the specific terms of the plan of distribution,” the filing states.

A spokeswoman for Bemis was not available for comment.

Holders of Bemis stock that could be named later also might sell their own shares through the prospectus, but the company would not receive any proceeds from those possible transactions, the company said.

Bemis, in the filing, indicated it is authorized to issue up to 502 million shares of stock, including 500 million shares of common stock and 2 million shares of preferred stock. As of July 27, the company had 94.7 million shares of common stock issued and no shares of preferred stock issued.

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