Business
Academy Sports + Outdoors Announces Pricing of its Initial Public Offering
KATY, Texas, Oct. 1, 2020 /PRNewswire/ -- Academy Sports and Outdoors, Inc. ("Academy") today announced the pricing of its initial public offering of
About this update from Academy Sports And Outdoors, Inc.
[{"type":"text","content":"KATY, Texas, Oct. 1, 2020 /PRNewswire/ -- Academy Sports and Outdoors, Inc. (\"Academy\") today announced the pricing of its initial public offering of 15,625,000 shares of its common stock at $13.00 per share. Shares of Academy's common stock are expected to begin trading on the NASDAQ Global Select Market on October 2, 2020, under the ticker symbol \"ASO,\" and the offering is expected to close on October 6, 2020, subject to customary closing conditions. Academy has granted the underwriters a 30-day option to purchase up to an additional 2,343,750 shares of its common stock to cover over-allotments, if any. \nAcademy will receive net proceeds of approximately $182.8 million after deducting underwriting discounts and commissions and estimated offering expenses and intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment of certain indebtedness.\nCredit Suisse, J.P. Morgan, KKR Capital Markets and BofA Securities are acting as joint book-running managers for the offering. Evercore ISI, Guggenheim Securities, UBS Investment Bank and Wells Fargo Securities are acting as bookrunners. Stephens Inc., Capital One Securities, Loop Capital Markets, CastleOak Securities, L.P., Blaylock Van, LLC, Cabrera Capital Markets LLC, Ramirez & Co., Inc. and R. Seelaus & Co., LLC are acting as co-managers.\nThe offering will be made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from: Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, by telephone at 800-221-1037, or by email at [email protected]; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 866-803-9204, or by email at [email protected]. \nA registration statement, including a prospectus, relating to these securities has been declared effective by the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of...