Tumi Holdings Announces Pricing of Its 18.78M Share Initial Public Offering at $18.00
Tumi Holdings, Inc. today announced the pricing of its initial public offering of 18,779,865 shares of common stock at $18.00 per share. The shares are expected to begin trading on the New York Stock Exchange on April 19, 2012 under the symbol “TUMI.”
Tumi is offering 15,608,221 shares of common stock and the selling stockholders, which include funds managed by or entities affiliated with Doughty Hanson & Co Managers Limited, are offering 3,171,644 shares. The underwriters have a 30-day option to purchase up to an additional 2,816,980 shares from the selling stockholders. Tumi will not receive any proceeds from the sale of shares by the selling stockholders.
Tumi expects to receive proceeds, net of underwriters' discount, of approximately $264.1 million from the offering and intends to use the net proceeds to repurchase all of its preferred stock and a portion of its common stock owned by Doughty Hanson.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.