Snap One, a provider of smart living products, services and software to professional integrators, has gone public after pricing its $13.85 million shares at $18 per share. The stock began trading July 28, 2021 on the NASDAQ under the ticker symbol “SNPO.” Morgan Stanley, J.P. Morgan, Jefferies and UBS Investment Bank are the lead underwriters. Snap One is backed by Hellman & Friedman.
CHARLOTTE, N.C., July 27, 2021 (GLOBE NEWSWIRE) — Snap One Holdings Corp. (“Snap One”), a provider of smart living products, services and software to professional integrators, today announced the pricing of its initial public offering of 13,850,000 shares of its common stock at $18.00 per share. Shares of Snap One’s common stock are expected to begin trading on the Nasdaq Global Select Market on July 28, 2021 under the symbol “SNPO,” and the offering is expected to close on July 30, 2021, subject to customary closing conditions. Snap One and selling shareholders have granted the underwriters a 30-day option to purchase a total of up to an additional 2,077,500 shares of common stock at the initial public offering price less the underwriting discounts and commissions.
Snap One intends to use the net proceeds from the offering to repay a portion of the term loan under its credit agreement plus accrued interest thereon as well as for general corporate purposes.
The offering is being made through an underwriting group led by Morgan Stanley, J.P. Morgan, Jefferies and UBS Investment Bank, who are acting as lead bookrunning managers; BMO Capital Markets, Raymond James, Truist Securities and William Blair, who are acting as bookrunning managers; and Drexel Hamilton, Penserra Securities LLC, R. Seelaus & Co., LLC and Siebert Williams Shank, who are acting 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 firstname.lastname@example.org; 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 Prospectus_Department@Jefferies.com; 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@example.com.
About Snap One
Snap One powers smart living by providing a suite of products, services and software to professional do-it-for-me (“DIFM”) integrators. Our customers include professional DIFM integrators who deliver personalized, immersive experiences to the end consumer. With more than 2,800 proprietary SKUs and a growing network of over 16,000 domestic DIFM integrators, Snap One combines an end-to-end product ecosystem and technology-enabled workflow solutions which allows integrators to focus on their trade while leveraging the tools and infrastructure we deliver to build thriving and profitable businesses.