YETI Holdings, which sells high-end YETI brand coolers, drinkware and outdoor gear, announced terms for its IPO on Monday.
The Austin, TX-based company plans to raise $400 million by offering 20 million shares (88% secondary) at a price range of $19 to $21. At the midpoint of the proposed range, YETI Holdings would command a fully diluted market value of $1.7 billion.
YETI Holdings was founded in 2006 and booked $727 million in sales for the 12 months ended June 30, 2018. It plans to list on the NYSE under the symbol YETI. BofA Merrill Lynch, Morgan Stanley, Jefferies, Baird, Piper Jaffray, Citi and Goldman Sachs are the joint bookrunners on the deal. It is expected to price during the week of October 22, 2018.
