Grill Maker Traeger Prices US$423.5 Million IPO

Outdoor cooking system maker Traeger Inc. (Nasdaq: COOK) started publicly trading on the New York Stock Exchange yesterday under the symbol “COOK”. The firm’s initial public offering is looking to raise US$423.5 million and is expected to close on August 2, 2021.

The offering will be conducted through the issuance of 23,529,411 common shares, selling at US$18.00 per share. Out of the total shares in the offering, 8,823,529 are being offered by Traeger and 14,705,882 are being offered by current stockholders.

The company granted a 30-day over-allotment option to purchase additional 3,529,411 common shares at the same IPO price, potentially bringing proceeds up to US$487.1 million. Morgan Stanley, Jefferies, Baird, and William Blair are all acting as joint lead bookrunners for the said offering.

The Salt Lake City-based company is known for making wood-fired cooking grills. The proposed offering puts the company’s valuation at approximately US$2 billion. Between March and May 2021, the company sold more than US$1.8 billion worth of its portfolio in the US.


Information for this briefing was found via Sedar and Traeger. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Is Gold’s Bull Market About to Hit Junior Stocks? | Ken Armstrong – Westhaven Gold

Surge Battery Metals: The Nevada North Lithium PEA

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Coinbase Files Listing To Go Public On Nasdaq Amid Bitcoin Boom

The largest US cryptocurrency exchange, Coinbase, has filed with US regulators to go public, as...

Friday, February 26, 2021, 10:46:00 AM

Venture Capital-Backed SPAC Banner Acquisition Eyes US$150 Million IPO

Special purpose acquisition company Banner Acquisition Corp. (Nasdaq: BNNRU) started trading publicly yesterday on the...

Thursday, September 9, 2021, 12:44:00 PM

Renewable Energy SPAC AP Acquisition Prices US$150 Million IPO

Special purpose acquisition company AP Acquisition Corp (NYSE: APCA.U) went public today on the New...

Friday, December 17, 2021, 02:23:00 PM

Mining SPAC Rigel Resource Acquisition Prices US$275 Million IPO

Blank check company Rigel Resource Acquisition Corp. (NYSE: RRAC.U) went public yesterday on the New...

Saturday, November 6, 2021, 02:58:00 PM

Medical Cannabis Firm Akanda Prices US$16 Million IPO

International medical cannabis firm Akanda Corp. (Nasdaq: AKAN) goes public today on the Nasdaq Capital...

Tuesday, March 15, 2022, 02:26:00 PM