B&G Foods estimates that the net proceeds from the offering will be approximately $542.6 million after deducting underwriting discounts and other fees and expenses related to the offering. B&G Foods intends to use the proceeds of the offering, together with the proceeds of additional borrowings under B&G Foods' proposed first lien senior secured term loan facility, to redeem all of B&G Foods' outstanding 4.625% senior notes due 2021, repay a portion of B&G Foods' borrowings under its revolving credit facility, pay related fees and expenses and for general corporate purposes.