IPO for BBQ Grill Maker Weber (WEBR) Opens 21% Higher After Reduced Size, Price

Today's IPO for Weber (NYSE: WEBR) opened for trading at $17 after pricing 17,857,143 shares of its Class A common stock at a public offering price of $14.00 per share, below the expected $15-$17 range. The offering size was also slashed from 46,875,000 shares.

Goldman Sachs & Co. LLC, BofA Securities, Inc., and J.P. Morgan Securities LLC are acting as lead book-running managers for the proposed offering. BMO Capital Markets, Citigroup, UBS Investment Bank, Wells Fargo Securities, and KeyBanc Capital Markets are acting as joint book-running managers for the offering. Academy Securities, Cabrera Capital Markets LLC, Siebert Williams Shank, and Telsey Advisory Group are acting as co-managers for the offering.

Weber Inc., headquartered in Palatine, IL, is the world’s leading barbecue brand. The company’s founder George Stephen, Sr. established the outdoor cooking category when he invented the original charcoal grill nearly 70 years ago. Weber offers a comprehensive, innovative product portfolio, including charcoal, gas, pellet and electric grills, smokers, and accessories designed to help outdoor cooking enthusiasts discover what’s possible. Earlier this year, the company acquired June Life Inc., a smart appliance and technology company, to accelerate the development of its Weber Connect™ technology and digital products. Weber offers its barbecue grills and accessories, services, and experiences to a passionate community of millions across 78 countries.

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