PlayAGS, an Apollo-backed supplier of electronic slot machines, announced terms for its IPO on Tuesday.
The Las Vegas, NV-based company plans to raise $174 million by offering 10.3 million shares at a price range of $16 to $18. At the midpoint of the proposed range, PlayAGS would command a fully diluted market value of $586 million.
PlayAGS was founded in 2005 and booked $197 million in sales for the 12 months ended September 30, 2017. It plans to list on the NYSE under the symbol AGS. Credit Suisse, Deutsche Bank, Jefferies, Macquarie Capital, BofA Merrill Lynch, Citi, Nomura Securities, Stifel and SunTrust Robinson Humphrey are the joint bookrunners on the deal. It is expected to price during the week of January 22, 2018.
