Traeger (COOK) IPO Opens 17% Higher

July 29, 2021 11:10 AM EDT
Get Alerts COOK Hot Sheet
Price: $21.75 -5.84%

Overall Analyst Rating:
    BUY (= Flat)

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Today's IPO for Traeger, Inc. (NYSE: COOK) opened for trading at $22 after pricing 23,529,411 shares of its common stock at a price to the public of $18.00 per share.

Morgan Stanley, Jefferies, Baird, and William Blair are acting as joint lead book-running managers for the initial public offering. Credit Suisse, RBC Capital Markets, BMO Capital Markets, Piper Sandler, and Stifel are also acting as book-running managers and Telsey Advisory Group, Academy Securities, AmeriVet Securities, Loop Capital Markets, and Ramirez & Co., Inc. are acting as co-managers for the initial public offering.

Traeger Grills, headquartered in Salt Lake City, is the creator and category leader of the wood pellet grill, a versatile and easy to use outdoor cooking system. Traeger pellet grills use all-natural hardwood fuel to infuse food with flavorful smoke, making food taste delicious and most of all, memorable. Traeger pellet grills utilize wood-fired convection power to provide 6-in-1 versatility; owners can grill, smoke, bake, roast, braise and barbecue meals on one cooking system.

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