Emeril's Original Has Expectations Kicked Down A Notch

By JULIETTE ROSSANT B&G Foods, maker of Emeril's Original among other brands, has just cut its IPO from 20.78 to 17.39 million EISs and $0.50 below the lowest expected price of $15.50 per EIS, according to breaking news from Reuters. (See previous entry, "Chef Branding: B&G Food Exposes Emeril?.") Underwriters RBC Capital Markets, Credit Suisse First Boston, and Merrill Lynch & Co., had already pushed back the IPO date from October 5 to as early as today, October 7. B&G Foods should receive $260.9 million. EISs or "Enhanced Income Securities" are a hybrid security, pairing corporate dividend-paying stock with high-interest debt as a single unit sold publicly.