Weber, a leading outdoor grilling brand, raised $250 million by offering 17.9 million shares at $14, below the range of $15 to $17. The company offered 29 million fewer shares than anticipated.
Weber states that it is the leading outdoor cooking company, with a 20%+ share of the US and global global outdoor cooking markets in 2020. The company's product portfolio includes traditional charcoal grills, gas grills, smokers, pellet and electric grills, and recently its Weber Connect technology-enabled grills. Weber is the leader in the largest markets in outdoor cooking, and beyond these markets, estimates that it has either the number one or number two brand position in each of the key geographies it serves.
Weber plans to list on the NYSE under the symbol WEBR. Goldman Sachs, BofA Securities, J.P. Morgan, BMO Capital Markets, Citi, UBS Investment Bank, Wells Fargo Securities, and KeyBanc Capital Markets acted as joint bookrunners on the deal.
