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Packers stock sale proceeds to go to Lambeau Field upgrades

Lambeau Field
Posted at 10:20 AM, Nov 16, 2021
and last updated 2021-11-16 14:28:58-05

GREEN BAY — The Green Bay Packers say the money raised from selling Packers stock at $300 starting Tuesday morning will be used for more construction projects at Lambeau Field.

Stock went on sale at 8 a.m. The offering document and purchasing information are available here. Credit and debit cards and electronic bank transfers can be used online. A toll-free number – 833 OWN PACK (833-696-7225) – is also available.

This is the sixth stock offering in Packers history.

The team said in an update Tuesday that the upgrades include new video boards and concourse upgrades.

The 2011 sale with shares priced at $250 added more than 250,000 new shareholders and raised $67.4 million, the team said. That money was used for a new entrance tower and viewing platform, and an expansion that added about 6,600 seats.

The 1997 sale with shares priced at $200 added 105,989 new shareholders and raised more than $24 million. That money was used for the Lambeau Field redevelopment project completed in 2003, according to the Packers.

Packers President/CEO Mark Murphy said in a statement:

“We’re excited to offer shares for just the sixth time in our franchise’s history. Since we received permission from the NFL last month for a stock offering, fans have been excited. Their support is a key component of our ability to invest in Lambeau Field and maintain it as a toptier sporting experience, which in turn contributes to the continued success of the franchise."

Here's the details the Packers released on Monday (verbatim):

• The price per share will be $300, and there will be a handling fee similar to the handling fee in the last offering.
• The offering will initially be limited to persons in the United States, as well as Guam, Puerto Rico and the U.S. Virgin Islands, subject to completing regulatory processes in certain states.
• Shares will be able to be purchased online with credit cards, debit cards, or electronic bank transfers, or with personal check or cashier’s check by mail.
• Only individuals (including spouses as joint tenants) will be able to purchase shares; individuals can purchase shares as a gift for other individuals.
• The Packers will offer 300,000 shares.
• No one may buy more than 200 shares (counting any shares that the person purchased in the 1997-1998 and 2011-2012 offerings).
• The offering will continue until Feb. 25, 2022, subject to extension.

In contemplation of the offering, interested fans should note:

• Stock in the Packers does not constitute an investment in “stock” in the common sense of the term.
• The Packers will have no obligation to repay the amount a buyer pays to purchase Packers stock.
• Anyone considering the purchase of Packers stock should not purchase the stock to make a profit or to receive a dividend or tax deduction or any other economic benefits.
• Any offering of Packers stock will only be made through an offering document.
• The Packers believe offerees and purchasers of Packers stock will not receive the protection of securities laws with respect to any offering or sale of Packers stock.
• The Packers bylaws and NFL rules severely restrict transfers of Packers stock.

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