Academy Sports and Outdoors, a value-oriented sports and outdoor equipment retailer in the southern US, raised $203 million by offering 15.6 million shares at $13, well below the range of $15 to $17. At pricing, the company raised 19% less in proceeds than anticipated.
Academy Sports and Outdoors plans to list on the Nasdaq under the symbol ASO. Credit Suisse, J.P. Morgan, KKR, BofA Securities, Evercore ISI, Guggenheim Securities, UBS Investment Bank and Wells Fargo Securities acted as joint bookrunners on the deal.
