Business
Academy Sports + Outdoors Announces Pricing of Secondary Offering
KATY, Texas, Jan. 27, 2021 /PRNewswire/ -- Academy Sports and Outdoors, Inc. ("Academy") (NASDAQ: ASO) today announced the pricing of the previously announced
About this update from Academy Sports And Outdoors, Inc.
[{"type":"text","content":"KATY, Texas, Jan. 27, 2021 /PRNewswire/ -- Academy Sports and Outdoors, Inc. (\"Academy\") (NASDAQ: ASO) today announced the pricing of the previously announced underwritten secondary offering by certain of its stockholders (the \"Selling Stockholders\"), including affiliates of Kohlberg Kravis Roberts & Co. L.P., of 12 million shares of common stock of Academy pursuant to a registration statement filed by Academy with the U.S. Securities and Exchange Commission (the \"SEC\"), at the public offering price of $21.50 per share. The Selling Stockholders have granted the underwriters a 30-day option to purchase up to an additional 1.8 million shares of Academy's common stock. No shares are being sold by Academy. The Selling Stockholders will receive all of the proceeds from this offering. The offering is expected to close on February 1, 2021, subject to customary closing conditions.\nCredit Suisse, J.P. Morgan, KKR Capital Markets and BofA Securities are acting as joint bookrunning managers for the proposed offering. Evercore ISI, Guggeheim Securities, UBS Investment Bank and Wells Fargo Securities are acting as bookunners. Stephens Inc. is acting as co-manager.\nThe offering of these securities will be made only by means of a prospectus. Copies of the prospectus 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 SEC. This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, nor shall there be any sale of 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 any such state or jurisdiction.\nAbout Academy Academy is a leading full-line sporting goods and outdoor recreation retailer in the United States. Originally founded in 1938 as a family business in Texas, Academy has grown to 259 store...