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BK prices secondary offering at $22 a share

MIAMI Burger King Holdings Inc. set a price Thursday of $22 per share for the previously announced secondary offering of 21 million shares of common stock held by the company's majority owners, whose gross gain would be about $462 million.

Burger King will not receive any proceeds from the sale.

The selling shareholders are private-equity funds controlled by Texas Pacific Group, the Goldman Sachs Funds, Bain Capital Partners and certain charities that may receive shares of common stock from Bain or its affiliates. The companies took Burger King public last year.

Prior to this secondary offering, the selling stockholders own about 101 million shares of Burger King stock, or about 75 percent of the outstanding shares. After the offering is completed, the group will own about 60 percent of the company's stock. A date for the offering has not yet been set.

There are about 11,100 Burger King restaurants systemwide.

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