November 18, 2005, 12:00 AM

Under Armour increases its IPO terms

Under Armour Inc., a multi-channel retailer with three web stores, has set the terms of its initial public offering at $13 per share, which could net the company as much as $157 million in new working capital.

Under Armour Inc., a multi-channel retailer and marketer of sports apparel, has set the terms of its initial public offering at $13 per share, which could net the company as much as $157 million in new working capital. The new price of $13 is up from a previously announced range of $7.50 to $9.50 per share.

Under Armour is best known for the tight-fitting undergarments athletes wear under their uniforms. The company sells its products through a network of more than 8,000 retailers, but also operates three e-commerce sites and its own network of four outlet stores.

The web accounts for about 4% of the company’s total annual sales of $205.1 million, Under Armour says.

The IPO is being underwritten by Goldman Sachs, CIBC World Markets and Wachovia Securities. The company will use the proceeds to pay down debt and for general corporate purposes.

 

 

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Deepak Agarwal / E-Commerce

Back-to-school insights from a Top 100 online retailer

It’s the second-largest online shopping season, and one nomorerack.com CEO pays close attention to. Here ...

FPO

Kevin Sterneckert / E-Commerce

The ghost economy: an $800 billion retail data disconnect

A new twist on a classic holiday story that online retailers will relive in the ...

Advertisement