Benzinga | Jul 28, 2021 06:56AM EDT

Snap One Prices IPO At Lower End Of Estimated Range, Trading Begins Today

* Smart living products, services, and software provider Snap One Holdings Corp (NASDAQ:SNPO) priced 13.85 million shares at $18 per share in its initial public offering.

* It had expected to price its IPO at $18 to $21 per share.

* The estimated gross proceeds are $249.3 million.

* Shares of Snap One are likely to begin trading on the Nasdaq under the symbol "SNPO" today.

* The underwriters have a 30-day option to purchase up to additional 2.1 million shares.

* The offering proceeds will be used to repay a portion of the term loan under its credit agreement plus accrued interest thereon and general corporate purposes.