Malibu Boats, a designs, manufactures and sells performance sport boats, announced terms for its IPO on Monday. The Loudon, TN-based company plans to raise $100 million by offering 7.1 million shares (6% insider) at a price range of $13 to $15. At the midpoint of the proposed range, Malibu Boats would command a market value of $314 million.
Malibu Boats, which was founded in 1982 and booked $177 million in sales for the 12 months ended September 30, 2013, plans to list on the NASDAQ under the symbol MBUU. Malibu Boats initially filed confidentially on November 9, 2013. Raymond James and Wells Fargo Securities are the joint bookrunners on the deal.
