Benzinga | Sep 13, 2021 10:20AM EDT

Kohlberg Kravis Roberts To Sell 18.6M Shares In Academy Sports & Outdoors

* Academy Sports & Outdoors Inc (NASDAQ:ASO) has announced some of its stockholders that are affiliates of Kohlberg Kravis Roberts & Co L.P are offering for sale of 18.65 million shares of common stock.

* The selling stockholders will receive all of the proceeds from this offering.

* Academy plans to repurchase up to $200 million of shares through this offering, pursuant to its recently announced $500 million share repurchase program and will be retired.

* The company held $553.8 million in cash and equivalents as of July 31, 2021.

* Price Action: ASO shares are trading lower by 1.95% at $44.85 on the last check Monday.