AUSTIN, Texas--(BUSINESS WIRE)--
YETI Holdings, Inc. (“YETI”) (NYSE:YETI) today announced that the
underwriters of its previously announced initial public offering of
common stock have exercised, in part, their option to purchase
additional shares of common stock, in an amount of 918,830 shares, from
the selling stockholders at the public offering price of $18.00 per
share, less the underwriting discount. The sale of the additional shares
is expected to close on November 28, 2018, subject to customary closing
conditions.
The option to purchase additional shares was granted to the underwriters
in connection with YETI’s initial public offering, which closed on
October 29, 2018.
YETI will not receive any proceeds from the sale of shares by the
selling stockholders.
BofA Merrill Lynch, Morgan Stanley, and Jefferies acted as lead
book-running managers and as representatives of the underwriters. Baird,
Piper Jaffray, Citigroup and Goldman Sachs & Co. LLC also acted as joint
book-running managers. KeyBanc Capital Markets, William Blair, Raymond
James, Stifel, and Academy Securities acted as co-managers.
A registration statement relating to the offering was declared effective
by the Securities and Exchange Commission (the “SEC”) on October 24,
2018. A final prospectus relating to the offering was filed with the SEC
and is available on the SEC’s website https://www.sec.gov.
Copies of final prospectus may be obtained from BofA Merrill Lynch,
NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC
28255-0001, Attention: Prospectus Department or by email at dg.prospectus_requests@baml.com;
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, NY 10014; or Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor,
New York, NY 10022, by phone at 1-877-821-7388 or by email at Prospectus_Department@Jefferies.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, 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 any such state or
jurisdiction.
About YETI Holdings, Inc.
YETI is a rapidly growing designer, marketer, retailer, and distributor
of a variety of innovative, branded, premium products to a wide-ranging
customer base. Our brand promise is to ensure each YETI product delivers
exceptional performance and durability in any environment, whether in
the remote wilderness, at the beach, or anywhere else life takes you. We
bring our products to market through a diverse and powerful omni-channel
strategy, comprised of our select group of national and independent
retail partners and our DTC channel. By consistently delivering
high-performing products, we have built a following of engaged brand
loyalists throughout the United States, Canada, Australia, and
elsewhere, ranging from serious outdoor enthusiasts to individuals who
simply value products of uncompromising quality and design. Our
relationship with customers continues to thrive and deepen as a result
of our innovative new product introductions, expansion and enhancement
of existing product families, and multifaceted branding activities.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” that involve
substantial risks and uncertainties. All statements other than
statements of historical or current fact included in this press release
are forward-looking statements. Forward-looking statements include
statements containing words such as “anticipate,” “assume,” “believe,”
“can have,” “contemplate,” “continue,” “could,” “design,” “due,”
“estimate,” “expect,” “forecast,” “goal,” “intend,” “likely,” “may,”
“might,” “objective,” “plan,” “predict,” “project,” “potential,” “seek,”
“should,” “target,” “will,” “would,” and other words and terms of
similar meaning in connection with any discussion of the timing or
nature of future operational performance or other events. For example,
all statements made relating to the closing of the sale of shares
referred to herein, estimated and projected costs, expenditures, and
growth rates, plans and objectives for future operations, growth, or
initiatives, or strategies are forward-looking statements. All
forward-looking statements are subject to risks and uncertainties that
may cause actual results to differ materially from those that are
expected and, therefore, you should not unduly rely on such statements.
These forward-looking statements are made based upon detailed
assumptions. While YETI believes that these assumptions are reasonable,
YETI cautions that it is very difficult to predict the impact of known
factors, and it is impossible for YETI to anticipate all factors that
could affect actual results.
The forward-looking statements included here are made only as of the
date hereof. YETI undertakes no obligation to publicly update or revise
any forward-looking statement as a result of new information, future
events, or otherwise, except as required by law.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181127005269/en/
Investor Relations:
Jean Fontana, 646-277-1214
jean.fontana@icrinc.com
Jennifer Davis, 646-677-1813
jennifer.davis@icrinc.com
Media:
Alecia Pulman, 203-682-8224
alecia.pulman@icrinc.com
Brittany Fraser, 646-277-1231
brittany.fraser@icrinc.com
Source: YETI Holdings, Inc.