Yeti Announces Pricing of Secondary Offering of Shares of Common Stock
YETI Holdings, Inc. (“YETI”) (NYSE: YETI) announced today the pricing of an underwritten public offering (the “Offering”) of 10,000,000 shares of YETI’s common stock by certain of its stockholders at a public offering price of $29.00 per share. In addition, the underwriters have been granted a 30-day option to purchase up to 1,500,000 additional shares of common stock from the selling stockholders at the public offering price, less underwriting discounts and commissions. YETI will not receive any proceeds from the sale of shares in the Offering.
BofA Securities, Jefferies, and Morgan Stanley are acting as lead book-running managers and as representatives of the underwriters for the Offering. Baird, Goldman Sachs & Co. LLC, and Piper Jaffray are also acting as joint book-running managers for the Offering. William Blair, Cowen, KeyBanc Capital Markets, Raymond James, Stifel, and Academy Securities are acting as co-managers for the Offering.
A registration statement on Form S-1 relating to the Offering was declared effective by the Securities and Exchange Commission on November 6, 2019. The Offering is being made only by means of a prospectus. A copy of the final prospectus relating to the Offering, when available, may be obtained from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at email@example.com; 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; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
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 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 growing designer, marketer, retailer, and distributor of a variety of innovative, branded, premium products to a wide-ranging customer base. Our mission is to ensure that each YETI product delivers exceptional performance and durability in any environment, whether in the remote wilderness, at the beach, or anywhere else life takes our customers. By consistently delivering high-performing products, we have built a following of engaged brand loyalists throughout the United States, Canada, Australia, Japan, 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.