Academy Sports and Outdoor (ASO) IPO Opens 7% Lower

Today's IPO for Academy Sports and Outdoor (NYSE: ASO) opened for trading at $12.10 after pricing 15,625,000 shares of its common stock at $13.00 per share.

Credit Suisse, J.P. Morgan, KKR Capital Markets and BofA Securities are acting as joint book-running managers for the offering. Evercore ISI, Guggenheim Securities, UBS Investment Bank and Wells Fargo Securities are acting as bookrunners. Stephens Inc., Capital One Securities, Loop Capital Markets, CastleOak Securities, L.P., Blaylock Van, LLC, Cabrera Capital Markets LLC, Ramirez & Co., Inc. and R. Seelaus & Co., LLC are acting as co-managers.

Academy is one of the leading full-line sporting goods and outdoor recreation retailers in the United States. Originally founded in 1938 as a family business in Texas, Academy has grown to 259 stores across 16 contiguous states, primarily in the southern United States. Academy's mission is to provide "Fun for All" and Academy fulfills this mission with a localized merchandising strategy and value proposition that strongly connects with a broad range of consumers. Academy's product assortment focuses on key categories of outdoor, apparel, footwear and sports & recreation through both leading national brands and a portfolio of 17 private label brands, which go well beyond traditional sporting goods and apparel offerings.

You May Also Be Interested In

• Rubrik IPO: 5 key things to know
• Junee Ltd (JUNE) Prices 2M Share IPO at $4/sh
• Serve Robotics (SBOT) Prices 10M Share Offering at $4/sh, Uplists to Nasdaq