Fox Files $120 Million IPO
Beginning tomorrow, you can become an investor in Fox Racing Shox. The company completed an IPO yesterday and will be offering 8,571,429 shares at ~$14 per share. They will be trade on Nasdaq under the symbol FOXF
The company is seeking to raise $120 million to cover a remaining 52.9 million in debt from a June 2012 recapitalization. The companies majority owner, Compass Group Diversified Holding, which has a 76% stake in the company is offering 4.7 million shares. Company founder Bob Fox has a 14% stake and be offering 866,723 of shares. After the IPO he will retain a 10% stake.
In 2012, Fox turned a profit of $14.2 million. Currently OEM sales account for 81% of business. Their bike sales account for 67% of business while the remaining 33% is from power sports and automotive suspension products. You can read the entire SEC filing here.
Via Seeking Alpha