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.
