Deals
Arc’teryx Maker Amer Gets $1.37 Billion in Below-Range IPO
- Amer Sports backers agreed to buy 21 million additional shares
- Sportswear maker sold 105 million shares at $13 each
An Arc'teryx store in the Chelsea neighborhood of New York
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Amer Sports Inc. raised about $1.37 billion in a US initial public offering priced below a marketed range in the second major IPO in a week to miss its target.
The maker of Wilson tennis rackets and Salomon ski boots on Wednesday sold 105 million shares at $13 each, according to a statement confirming an earlier report by Bloomberg News. Three members of the consortium that acquired the company in 2019 agreed to buy 21 million additional shares at the IPO price, on top of their previous commitment, said people familiar with the matter, who asked not to be identified because it wasn’t public.