Grill Maker Weber Prices Downsized US$250 Million IPO
Grill maker Weber Inc. (NYSE: WEBR) started publicly trading on the New York Stock Exchange today under the symbol “WEBR”. The firm’s initial public offering is looking to raise US$250.0 million and is expected to close on August 9, 2021.
The offering will be conducted through the issuance of 17,857,143 Class A common shares selling at US$14.00 per share, putting the company’s valuation at roughly US$5 billion. This is an adjustment from the company’s original plan with its selling shareholders to sell approximately 47 million shares with share price expectations between US$15.00 and US$17.00. The resulting priced offering only comes from the company selling its shares.
The company granted a 30-day over-allotment option to purchase additional 2,678,571 common shares at the same IPO price. Goldman Sachs & Co., BofA Securities, Inc., and J.P. Morgan Securities are all acting as joint lead bookrunners for the said offering.
The Illinois-based company is going public on the New York-based exchange days after fellow grill maker Traeger Inc. (Nasdaq: COOK) went public on the same big board and closed its own IPO.
Information for this briefing was found via Sedar and the companies mentioned. 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.
