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SNPO - Snap One Holdings News Story

$22.12 0.4  1.7%

Last Trade - 02/12/21

Sector
Technology
Size
Mid Cap
Market Cap £1.24bn
Enterprise Value £1.53bn
Revenue £723.5m
Position in Universe 2446th / 7292

Snap One Holdings Corp. Announces Pricing of its Initial Public Offering

Tue 27th July, 2021 11:19pm
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CHARLOTTE, N.C., July 27, 2021 (GLOBE NEWSWIRE) -- Snap One Holdings Corp.
(“Snap One”), a provider of smart living products, services and software
to professional integrators, today announced the pricing of its initial public
offering of 13,850,000 shares of its common stock at $18.00 per share. Shares
of Snap One’s common stock are expected to begin trading on the Nasdaq
Global Select Market on July 28, 2021 under the symbol “SNPO,” and the
offering is expected to close on July 30, 2021, subject to customary closing
conditions. Snap One and selling shareholders have granted the underwriters a
30-day option to purchase a total of up to an additional 2,077,500 shares of
common stock at the initial public offering price less the underwriting
discounts and commissions.

Snap One intends to use the net proceeds from the offering to repay a portion
of the term loan under its credit agreement plus accrued interest thereon as
well as for general corporate purposes.

The offering is being made through an underwriting group led by Morgan
Stanley, J.P. Morgan, Jefferies and UBS Investment Bank, who are acting as
lead bookrunning managers; BMO Capital Markets, Raymond James, Truist
Securities and William Blair, who are acting as bookrunning managers; and
Drexel Hamilton, Penserra Securities LLC, R. Seelaus & Co., LLC and Siebert
Williams Shank, who are acting 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 powers smart living by providing a suite of products, services and
software to professional do-it-for-me (“DIFM”) integrators. Our customers
include professional DIFM integrators who deliver personalized, immersive
experiences to the end consumer. With more than 2,800 proprietary SKUs and a
growing network of over 16,000 domestic DIFM integrators, Snap One combines an
end-to-end product ecosystem and technology-enabled workflow solutions which
allows integrators to focus on their trade while leveraging the tools and
infrastructure we deliver to build thriving and profitable businesses.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking
statements, including with respect to the closing of the initial public
offering and use of proceeds thereof. Management has based these
forward-looking statements on its 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


(https://www.globenewswire.com/NewsRoom/AttachmentNg/89a98f6c-2d28-46dd-ada4-1591a9915c05)



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