Amer Sports, Inc. Announces Pricing of its Initial Public Offering

Rhea-AI Summary

Amer Sports, Inc. has announced the pricing of its initial public offering of 105,000,000 ordinary shares at a public offering price of $13.00 per share. The underwriters have been granted a 30-day option to purchase up to an additional 15,750,000 ordinary shares. The ordinary shares are expected to begin trading on the New York Stock Exchange on February 1, 2024 under the symbol 'AS'. The closing of the offering is expected to occur on February 5, 2024, subject to customary closing conditions. Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan, and Morgan Stanley are acting as joint book-running managers for the offering.

Insights

Market Research Analyst

The pricing of Amer Sports' initial public offering (IPO) at $13.00 per share for 105,000,000 ordinary shares is a significant event for the company and its potential investors. The decision to offer an additional 15,750,000 shares as an over-allotment option indicates a strategy to capitalize on strong investor demand, if present. The role of prominent financial institutions as joint book-running managers and bookrunners suggests a robust underwriting process and potentially broad interest in the market.

It is essential to note the potential impact on Amer Sports' market capitalization and the influx of capital that can be used for growth initiatives, debt reduction, or other corporate purposes. The involvement of a diverse group of co-managers also highlights an inclusive approach to the offering, possibly aiming to reach a wider range of institutional investors and potentially enhancing the overall liquidity of the shares post-IPO.

Financial Analyst

Analyzing the IPO pricing from a financial perspective, the set price of $13.00 per share must be evaluated against Amer Sports' financial health, including its revenue, earnings, growth potential and the competitive landscape of the sports and outdoor brands industry. The valuation at the time of the IPO could provide insights into investor sentiment regarding the sector and Amer Sports' positioning within it.

Investors will also scrutinize the use of IPO proceeds, as it reflects management's strategic priorities and capacity to generate shareholder value. The closing of the offering is subject to customary closing conditions, which typically include regulatory approvals and confirmation of the underwriters' due diligence findings. Any deviations from expected conditions could influence investor confidence and the success of the IPO.

Legal Expert

The registration of the IPO with the U.S. Securities and Exchange Commission and its declared effectiveness is a critical legal milestone. Compliance with the Securities Act of 1933 is paramount for the legitimacy of the offering. The availability of the prospectus is not only a regulatory requirement but also serves as a key source of information for investors, detailing the company's financials, risks and the terms of the offering.

Legal frameworks governing the sale of securities ensure that the transaction is conducted transparently and fairly, which is crucial for maintaining market integrity. The statement that the offering will be made only by means of a prospectus underlines the importance of adhering to these frameworks.

HELSINKI, Finland--(BUSINESS WIRE)-- Amer Sports, Inc. (“Amer Sports”), a global group of iconic sports and outdoor brands, announced today the pricing of its initial public offering of 105,000,000 ordinary shares at a public offering price of $13.00 per share. In connection with the offering, Amer Sports has granted the underwriters a 30-day option to purchase up to an additional 15,750,000 ordinary shares to cover over-allotments. The ordinary shares are expected to begin trading on the New York Stock Exchange on February 1, 2024 under the symbol “AS”.

The closing of the offering is expected to occur on February 5, 2024 subject to the satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan and Morgan Stanley are acting as joint book-running managers for the offering. Citigroup, UBS Investment Bank, Baird, BNP PARIBAS, CICC, CLSA, Evercore ISI, TD Cowen, Wells Fargo Securities, Deutsche Bank Securities and HSBC are acting as bookrunners for the offering. Blaylock Van, LLC, Drexel Hamilton, Loop Capital Markets, Ramirez & Co., Inc., Siebert Williams Shank and Tigress Financial Partners are acting as co-managers for the offering.

A registration statement on Form F-1 relating to the offering has been filed with the U.S. Securities and Exchange Commission and was declared effective on January 31, 2024. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering, when available, may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the final prospectus, when available, may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 866-471-2526 or by email at prospectus-ny@ny.email.gs.com; BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC, 28255-0001, Attn: Prospectus Department, by telephone at 800-294-1322 or by email at dg.prospectus_requests@bofa.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmorganchase.com; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction 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. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About Amer Sports, Inc.

Amer Sports is a global group of iconic sports and outdoor brands, including Arc’teryx, Salomon, Wilson, Peak Performance, and Atomic. Our brands are creators of exceptional apparel, footwear, equipment, protective gear, and accessories that we believe give our consumers the confidence and comfort to excel.

With over 10,800 employees globally, Amer Sports’ purpose is to elevate the world through sport and to inspire people to lead better, healthier lives. Our vision is to be the global leader in premium sports and outdoor brands. With corporate offices in Helsinki, Munich, Kraków, and Shanghai, we have operations in 41 countries and our products are sold in 100+ countries. Our revenue in 2022 was $3.5 billion.

Source: Amer Sports, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240131081309/en/

Media:

Anu Sirkiä

Vice President, Communications

anu.sirkia@amersports.com



Investor Relations:

Omar Saad

Vice President, Finance and Investor Relations

omar.saad@amersports.com

Source: Amer Sports, Inc.

FAQ

What is the public offering price of Amer Sports, Inc.?

The public offering price of Amer Sports, Inc. is $13.00 per share.

When are the ordinary shares of Amer Sports, Inc. expected to begin trading on the New York Stock Exchange?

The ordinary shares of Amer Sports, Inc. are expected to begin trading on the New York Stock Exchange on February 1, 2024.

What is the ticker symbol for Amer Sports, Inc.?

The ticker symbol for Amer Sports, Inc. is 'AS'.

Who are the joint book-running managers for the offering of Amer Sports, Inc.?

Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan, and Morgan Stanley are acting as joint book-running managers for the offering of Amer Sports, Inc.