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SNPO - Snap One Holdings News Story

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Sector
Technology
Size
Mid Cap
Market Cap £1.29bn
Enterprise Value £1.58bn
Revenue £725.4m
Position in Universe 2452nd / 7329

Snap One Holdings Corp. Announces Partial Exercise of Over-Allotment Option

Thu 19th August, 2021 9:05pm
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CHARLOTTE, N.C., Aug. 19, 2021 (GLOBE NEWSWIRE) -- Snap One Holdings Corp.
(NASDAQ: SNPO) (“Snap One”), a provider of smart living products,
services and software to professional integrators, today announced that the
underwriters of its recent initial public offering of common stock exercised
their option to purchase an additional 1,232,500 shares of Snap One’s common
stock at $18.00 per share less underwriting discounts and commissions. Snap
One sold 1,170,812 shares and selling stockholders sold 61,688 shares in
connection with the partial exercise of the over-allotment option, which
closed on August 18, 2021.

Snap One intends to use the net proceeds from the offering for general
corporate purposes.

The offering was made through an underwriting group led by Morgan Stanley,
J.P. Morgan, Jefferies and UBS Investment Bank, who acted as lead bookrunning
managers; BMO Capital Markets, Raymond James, Truist Securities and William
Blair, who acted as bookrunning managers; and Drexel Hamilton, Penserra
Securities LLC, R. Seelaus & Co., LLC and Siebert Williams Shank, who acted as
co-managers.

A registration statement on Form S-1 relating to these securities has been
declared effective by the Securities and Exchange Commission. This news
release shall not constitute an offer to sell or a solicitation of an offer to
buy these securities, nor shall there be any sale of these securities in any
state 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.

The offering of these securities may be made only by means of a prospectus.
Copies of the prospectus may be obtained from Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY
10014; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204
or by email at prospectus-eq_fi@jpmorganchase.com; Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, or by telephone at (877) 821-7388 or by email at
Prospectus_Department@Jefferies.com; or UBS Securities LLC, Attn: Prospectus
Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at
(888) 827-7275 or by email at ol-prospectus-request@ubs.com.

About Snap One
Snap One provides a suite of products, services and software to its network of
professional do-it-for-me (“DIFM”) integrators that enable them to deliver
smart living experiences for their residential and small business end users.
The Company’s hardware and software portfolio includes leading proprietary
and third-party offerings across connected, infrastructure, and entertainment
categories. Additionally, Snap One provides technology-enabled workflow
solutions to support integrators throughout the project lifecycle, enhancing
their operations and helping them to profitably grow their businesses.

Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking
statements, including with respect to the use of proceeds of the
over-allotment exercise. Management has based these forward-looking statements
on their current expectations, assumptions, estimates and projections. While
they believe these expectations, assumptions, estimates and projections are
reasonable, such forward-looking statements are only predictions and involve
known and unknown risks and uncertainties, many of which are beyond
management's control. These statements involve risks and uncertainties that
may cause Snap One’s actual results, performance or achievements to differ
materially from any future results, performance or achievements expressed or
implied by these forward-looking statements. Forward-looking statements speak
only as of the date they are made. Readers are cautioned not to put undue
reliance on forward-looking statements, and, except as required by law, Snap
One assumes no obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information, future
events, or otherwise.

Contacts

Media:

Abigail Hanlon
Director, Marketing Events & Public Relations
Abigail.Hanlon@SnapOne.com

Jordan Schmidt
Gateway Investor Relations
949-574-3860
IR@SnapOne.com

Investors:

Tom Colton and Matt Glover
Gateway Investor Relations
949-574-3860
IR@SnapOne.com



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GlobeNewswire, Inc. 2021
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