YETI Holdings, which sells high-end YETI brand coolers, drinkware and outdoor gear, filed on Friday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise upwards of $300 million. YETI had previously filed to raise the same amount in July 2016, but withdrew its initial filing in March of this year.
The Austin, TX-based company was founded in 2006 and booked $727 million in revenue for the 12 months ended June 30, 2018. It plans to list on the NYSE under the symbol YETI. YETI Holdings filed confidentially on July 17, 2018. BofA Merrill Lynch, Morgan Stanley, Jefferies, Baird, Piper Jaffray, Citi and Goldman Sachs are the joint bookrunners on the deal. No pricing terms were disclosed.
