Benzinga | Oct 2, 2020 05:39AM EDT

Academy Sports + Outdoors Priced 15.625M Share IPO @$13/Share

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) announced the pricing of its initial public offering of 15,625,000 shares of its common stock at $13.00 per share. Shares of Academy's common stock are expected to begin trading on the NASDAQ Global Select Market on October 2, 2020, under the ticker symbol "ASO," and the offering is expected to close on October 6, 2020, subject to customary closing conditions. Academy has granted the underwriters a 30-day option to purchase up to an additional 2,343,750 shares of its common stock to cover over-allotments, if any.

Academy will receive net proceeds of approximately $182.8 million after deducting underwriting discounts and commissions and estimated offering expenses and intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment of certain indebtedness.

Credit Suisse, J.P. Morgan, KKR Capital Markets and BofA Securities are acting as joint book-running managers for the offering. Evercore ISI, Guggenheim Securities, UBS Investment Bank and Wells Fargo Securities are acting as bookrunners. Stephens Inc., Capital One Securities, Loop Capital Markets, CastleOak Securities, L.P., Blaylock Van, LLC, Cabrera Capital Markets LLC, Ramirez & Co., Inc. and R. Seelaus & Co., LLC are acting as co-managers.