Solo Brands, Inc. Announces Pricing of Secondary Offering of Class A Common Stock
11 Maio 2023 - 9:56PM
Business Wire
Solo Brands, Inc. (NYSE: DTC) (“Solo Brands” or the “Company”),
an omni-channel platform of beloved brands Solo Stove, Chubbies,
Oru Kayak, and ISLE, today announced the pricing of the
underwritten public offering of 11,304,348 shares of Solo Brands’
Class A common stock by certain selling stockholders (the
“Secondary Offering”), at a price to the public of $5.25 per share.
The underwriters will also have a 30-day option to purchase up to
an additional 1,695,652 shares of Solo Brands’ Class A common stock
from the selling stockholders. The Secondary Offering is expected
to close on May 16, 2023, subject to customary closing
conditions.
Solo Brands is not selling any shares of Class A common stock in
the Secondary Offering and will not receive any proceeds from the
sale of shares by the selling stockholders.
BofA Securities, Inc. and Jefferies LLC are acting as joint
book-running managers.
A registration statement relating to the Secondary Offering has
been filed with the Securities and Exchange Commission and was
declared effective on April 28, 2023. The Secondary Offering is
being made only by means of a prospectus supplement. Copies of the
final prospectus supplement relating to the Secondary Offering,
when available, may be obtained from BofA Securities Inc., Attn:
Prospectus Department, NC1-022-02-25, 201 North Tryon, Charlotte,
NC 28255-0001, or by email at dg.prospectus_requests@bofa.com and
Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520
Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388,
or by email at Prospectus_Department@jefferies.com.
On May 10, 2023, the Company entered into a stock purchase
agreement with the selling stockholders to repurchase 5,605,509 of
the Company’s shares of Class A common stock from the selling
stockholders in a private transaction (the “Share Purchase”). The
Share Purchase is subject to the completion of the Secondary
Offering and is expected to close concurrently with the Secondary
Offering. The closing of the Secondary Offering is not contingent
on the closing of the Share Purchase.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, 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 Solo Brands, Inc.
Solo Brands, headquartered in Grapevine, TX, develops and
produces ingenious lifestyle products that help customers create
lasting memories. Through an omni-channel distribution model that
leverages e-commerce, strategic wholesale relationships and
physical retail stores, Solo Brands offers innovative products to
consumers through four lifestyle brands – Solo Stove, known for its
firepits, stoves, and accessories, Chubbies, a premium casual
apparel and activewear brand, Oru Kayak, innovator of origami
folding kayaks, and ISLE, maker of inflatable and hard paddle
boards and accessories.
Forward-Looking Statements
Certain statements in this press release constitute
“forward-looking statements” within the meaning of, and subject to
the protection of, the Private Securities Litigation Reform Act of
1995. Such forward-looking statements involve known and unknown
risks, uncertainties, and other factors that may cause the actual
results, performance or achievements of Solo Brands to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Statements preceded by, followed by, or that otherwise
include the words “anticipates,” “believes,” “estimates,”
“expects,” “intends,” “plans,” “projects” and “targets” and similar
expressions of future or conditional verbs such as “will,”
“should,” “would,” “may” and “could” are generally forward-looking
in nature and not historical facts. Any statements that refer to
expectations or other characterizations of future events,
circumstances or results, including, but not limited to, those
related to the Secondary Offering and the Share Purchase, are
forward-looking statements. Solo Brands undertakes no obligation to
update publicly any forward-looking statements to conform these
statements to actual results or to changes in Solo Brands’
expectations, except as may be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230511005981/en/
Investor Contact
Bruce Williams Solobrands@icrinc.com 332-242-4303
Solo Brands (NYSE:DTC)
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