AUSTIN, Texas--(BUSINESS WIRE)--
YETI Holdings, Inc. (“YETI”) today announced the pricing of its initial
public offering of 16,000,000 shares of common stock at a public
offering price of $18 per share. 2,500,000 of the shares are being
offered by YETI and 13,500,000 of the shares are being offered by
certain selling stockholders. In addition, the underwriters have been
granted a 30-day option to purchase up to 2,400,000 additional shares of
common stock from the selling stockholders at the public offering price,
less underwriting discounts.
The shares are expected to begin trading on The New York Stock Exchange
on October 25, 2018, under the symbol “YETI.” The closing of the
offering is subject to customary closing conditions and is expected to
occur on October 29, 2018.
YETI intends to use the net proceeds from the offering to repay a
portion of its outstanding credit facility. YETI will not receive any
proceeds from the offering of shares by the selling stockholders.
BofA Merrill Lynch, Morgan Stanley, and Jefferies are acting as lead
book-running managers and as representatives of the underwriters for the
proposed offering. Baird, Piper Jaffray, Citigroup and Goldman Sachs &
Co. LLC are also acting as joint book-running managers for the proposed
offering. KeyBanc Capital Markets, William Blair, Raymond James, Stifel,
and Academy Securities are acting as co-managers for the proposed
offering.
A registration statement relating to the offering was declared effective
by the Securities and Exchange Commission on October 24, 2018. This
offering is being made solely by means of a prospectus. Copies of final
prospectus may be obtained, when available, 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 use of proceeds from the offering, the
closing of the offering, 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/20181024006007/en/
For YETI Holdings, Inc.
Investor Relations:
Jean
Fontana, 646-277-1214
jean.fontana@icrinc.com
or
Jennifer
Davis, 646-677-1813
jennifer.davis@icrinc.com
or
Media:
Alecia
Pulman, 203-682-8224
alecia.pulman@icrinc.com
or
Brittany
Fraser, 646-277-1231
brittany.fraser@icrinc.com
Source: YETI Holdings, Inc.