YETI Announces Pricing of Secondary Offering of Shares of Common Stock by Selling Stockholders
May 08 2019 - 5:53PM
Business Wire
YETI Holdings, Inc. (“YETI”) (NYSE: YETI) announced today the
pricing of an underwritten public offering (the “Offering”) of
9,500,000 shares of YETI’s common stock by certain of its
stockholders at a public offering price of $28.50 per share. In
addition, the underwriters have been granted a 30-day option to
purchase up to 1,425,000 additional shares of common stock from the
selling stockholders at the public offering price, less
underwriting discounts and commissions. YETI will not receive any
proceeds from the sale of shares in the Offering.
BofA Merrill Lynch, Jefferies, and Morgan Stanley are acting as
lead book-running managers and as representatives of the
underwriters for the Offering. Goldman Sachs & Co. LLC,
Citigroup, Baird, and Piper Jaffray are also acting as joint
book-running managers for the Offering. Stifel, William Blair,
KeyBanc Capital Markets, Raymond James, and Academy Securities are
acting as co-managers for the Offering.
A registration statement on Form S-1 relating to the Offering
was declared effective by the Securities and Exchange Commission on
May 8, 2019. The Offering is being made only by means of a
prospectus. A copy of the final prospectus relating to the
Offering, when available, 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; 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; or Morgan Stanley & Co.
LLC, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, NY 10014.
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 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 designer, marketer, retailer, and distributor of a
variety of innovative, branded, premium products to a wide ranging
customer base. Our mission is to ensure that each YETI product
delivers exceptional performance and durability in any environment,
whether in the remote wilderness, at the beach, or anywhere else
life takes our customers. By consistently delivering high
performing products, we have built a following of engaged brand
loyalists throughout the United States, Canada, Japan, 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’’
within the meaning of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical or
current fact included in this press release are forward-looking
statements. Forward-looking statements include statements
concerning the completion of the Offering and the 30-day option
granted to the underwriters. Forward-looking statements are subject
to a number of risks and uncertainties, many of which involve
factors or circumstances that are beyond YETI’s control, including,
without limitation, risks and uncertainties related to the
satisfaction of customary closing conditions related to the
Offering in order for the Offering to close and whether or not the
option referred to above will be exercised by the underwriters and
will close. Actual results could differ materially from those
stated or implied in forward-looking statements due to a number of
factors, including but not limited to, risks detailed in the
section entitled “Risk Factors” and elsewhere in YETI’s Quarterly
Report on Form 10-Q for the quarter ended March 30, 2019, and in
the registration statement on Form S-1 related to the Offering
filed with the Securities and Exchange Commission. The
forward-looking statements included in this press release represent
YETI’s views as of the date of this press release. YETI undertakes
no intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events,
changes in YETI’s expectations or otherwise. These forward-looking
statements should not be unduly relied upon or represent YETI’s
views as of any date subsequent to the date of this press
release.
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version on businesswire.com: https://www.businesswire.com/news/home/20190508005959/en/
Investor Relations:Tom Shaw,
512-271-6332Investor.relations@yeti.comMedia:Alecia Pulman,
203-682-8224alecia.pulman@icrinc.comBrittany Fraser,
646-277-1231brittany.fraser@icrinc.com
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