The Yeti IPO is back on the table two years after the company first proposed the idea of going public.
The company specializes in the manufacturing and distribution of coolers and drinking equipment and it said that it has refiled for an initial public offering on Monday. The Yeti IPO will seek to bring in 20 million shares that will be priced in the range of $19 to $21 apiece.
The company’s previous IPO took place back in 2016, but the deal fell through due to market conditions, although it is unclear what exactly the company meant by this. The lead underwriters of the Yeti IPO this time around are BofA Merrill Lynch, Morgan Stanley and Jefferies, while there are also nine other banks that are acting as co-managers.
The move would help the company raise $400 million at the midpoint of its price range and the company plans on listing itself on the New York Stock Exchange under the ticker symbol “YETI” if all goes according to plan.
Yeti has been around since 2006 and it raked in $727 million in sales for its most recent fiscal 12 months, which ended June 30, 2018. The company is expected to price during the week of October 22, 2018. The midpoint would also see the cooler maker have a fully diluted market value of $1.7 billion.
