Snap One Holdings Corp. Announces Partial Exercise of Over-Allotment Option

CHARLOTTE, N.C., Aug. 19, 2021 (GLOBE NEWSWIRE) -- Snap One Holdings Corp. (NASDAQ: SNPO) (“Snap One”), a provider of smart living products, services and software to professional integrators, today announced that the underwriters of its recent initial public offering of common stock exercised their option to purchase an additional 1,232,500 shares of Snap One’s common stock at $18.00 per share less underwriting discounts and commissions. Snap One sold 1,170,812 shares and selling stockholders sold 61,688 shares in connection with the partial exercise of the over-allotment option, which closed on August 18, 2021.

Snap One intends to use the net proceeds from the offering for general corporate purposes.

The offering was made through an underwriting group led by Morgan Stanley, J.P. Morgan, Jefferies and UBS Investment Bank, who acted as lead bookrunning managers; BMO Capital Markets, Raymond James, Truist Securities and William Blair, who acted as bookrunning managers; and Drexel Hamilton, Penserra Securities LLC, R. Seelaus & Co., LLC and Siebert Williams Shank, who acted as co-managers.

A registration statement on Form S-1 relating to these securities has been declared effective by the Securities and Exchange Commission. This news release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of these securities may be made only by means of a prospectus. Copies of the prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204 or by email at [email protected]; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388 or by email at [email protected]; or UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at (888) 827-7275 or by email at [email protected].

About Snap OneSnap One provides a suite of products, services and software to its network of professional do-it-for-me (“DIFM”) integrators that enable them to deliver smart living experiences for their residential and small business end users. The Company’s hardware and software portfolio includes leading proprietary and third-party offerings across connected, infrastructure, and entertainment categories. Additionally, Snap One provides technology-enabled workflow solutions to support integrators throughout the project lifecycle, enhancing their operations and helping them to profitably grow their businesses.

Cautionary Statement Concerning Forward-Looking StatementsCertain statements contained in this press release constitute forward-looking statements, including with respect to the use of proceeds of the over-allotment exercise. Management has based these forward-looking statements on their current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause Snap One’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Snap One assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Contacts

Media:

Abigail HanlonDirector, Marketing Events & Public Relations[email protected]

Jordan SchmidtGateway Investor Relations949-574-3860[email protected]

Investors:

Tom Colton and Matt GloverGateway Investor Relations949-574-3860[email protected]

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