Amer Sports drops on $750 mln equity raise

Amer Sports

03/03/2026 12:56

** Shares of Amer Sports AS.N 4.5% premarket at $36.20 after $750 mln follow-on priced

** Finland-based sportswear firm early Tues said it sold ~20.6 mln shares at $36.40

** Offering price represents 3.9% discount to stock's last close

** Co intends to use net offering proceeds to fund redemption of its 6.75% notes due 2031

** BofA and JP Morgan lead bookrunners

** Co has ~557.7 mln shares outstanding

** Through Mon, stock up 1.4% YTD. Stock hit record intraday high of $42.76 on Feb 20

** 20 of 21 analysts rate the stock "strong buy" or "buy", 1 rates "hold"; median PT $48, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))