YETI Announces Launch of Secondary Offering of Shares of Common Stock by Selling Stockholders
November 04 2019 - 5:15PM
Business Wire
YETI Holdings, Inc. (“YETI”) (NYSE: YETI) announced today the
commencement of an underwritten public offering (the “Offering”) of
10,000,000 shares of YETI’s common stock by certain of its
stockholders. In connection with the Offering, the selling
stockholders intend to grant to the underwriters a 30-day option to
purchase up to an additional 1,500,000 shares of YETI’s common
stock. YETI is not offering any shares of its common stock in the
Offering and will not receive any proceeds from the sale of shares
in the Offering.
BofA Securities, Jefferies, and Morgan Stanley are acting as
lead book-running managers and as representatives of the
underwriters for the Offering.
A registration statement on Form S-1 relating to the Offering
has been filed with the Securities and Exchange Commission, but has
not yet become effective. The shares of common stock included in
the Offering may not be sold nor may offers to buy be accepted
prior to the time the registration statement on Form S-1 becomes
effective. The Offering may be made only by means of a prospectus.
A copy of the preliminary prospectus relating to the Offering, when
available, may be obtained from BofA Securities, NC1-004-03-43, 200
North College Street, 3rd Floor, Charlotte, NC 28255-0001,
Attention: Prospectus Department or by email at
dg.prospectus_requests@baml.com; Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, by phone at 1-877-821-7388 or by email at
Prospectus_Department@Jefferies.com; or Morgan Stanley & Co.
LLC, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, NY 10014.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About YETI Holdings, Inc.
YETI is a growing designer, marketer, retailer, and distributor
of a variety of innovative, branded, premium products to a
wide-ranging customer base. Our mission is to ensure that each YETI
product delivers exceptional performance and durability in any
environment, whether in the remote wilderness, at the beach, or
anywhere else life takes our customers. By consistently delivering
high-performing products, we have built a following of engaged
brand loyalists throughout the United States, Canada, Australia,
Japan, and elsewhere, ranging from serious outdoor enthusiasts to
individuals who simply value products of uncompromising quality and
design. Our relationship with customers continues to thrive and
deepen as a result of our innovative new product introductions,
expansion and enhancement of existing product families, and
multifaceted branding activities.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical or current
fact included in this press release are forward-looking statements.
Forward-looking statements include statements concerning the
conduct of the Offering and the size and terms of the Offering.
Forward-looking statements are subject to a number of risks and
uncertainties, many of which involve factors or circumstances that
are beyond YETI’s control, including, without limitation, risks and
uncertainties related to market conditions, that the size of the
Offering could change or the Offering could be terminated, and the
satisfaction of customary closing conditions related to the
Offering. Actual results could differ materially from those stated
or implied in forward-looking statements due to a number of
factors, including but not limited to, risks detailed in the
section entitled “Risk Factors” and elsewhere in YETI’s Quarterly
Report on Form 10-Q for the quarter ended September 28, 2019, and
in the registration statement on Form S-1 related to the Offering
filed with the Securities and Exchange Commission. The
forward-looking statements included in this press release should
not be unduly relied upon, represent YETI’s views only as of the
date of this press release and do not represent YETI’s views as of
any subsequent date. YETI undertakes no intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events, changes in YETI’s
expectations or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20191104006033/en/
Investor Relations Contact: Tom Shaw, 512-271-6332
Investor.relations@yeti.com
Media Contact: YETI Holdings, Inc. Media Hotline
Media@yeti.com
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