Academy Sports Files Initial Public Offering

Academy Sports and Outdoors has launched its initial public offering of 15,625,000 shares of its common stock. The initial public offering price is expected to be between $15 and $17 per share.

Academy expects to grant the underwriters a 30-day option to purchase up to an additional 2,343,750 shares of its common stock to cover over-allotments, if any.  Academy has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol “ASO.”  Academy said it intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment of certain indebtedness.

Credit Suisse, J.P. Morgan, KKR Capital Markets and BofA Securities are acting as joint book-running managers for the proposed offering.  Evercore ISI, Guggenheim Securities, UBS Investment Bank and Wells Fargo Securities are acting as bookrunners. Stephens Inc., Capital One Securities, Loop Capital Markets, CastleOak Securities, L.P., Blaylock Van, LLC, Cabrera Capital Markets LLC, Ramirez & Co., Inc. and R. Seelaus & Co., LLC are acting as co-managers.

Academy is one of the leading full-line sporting goods and outdoor recreation retailers in the U.S.  Originally founded in 1938 as a family business in Texas, Academy has grown to 259 stores across 16 contiguous states, primarily in the southern U.S.