Yeti Files for IPO

By Chris Lange Updated Jan 13, 6:05AM EST · Published Jul 5, 8:55AM EDT

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Yeti Holdings has registered an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). No pricing details were given in the filing, but the offering is valued up to $100 million, although this number is usually just a placeholder. The company intends to list its common shares on the New York Stock Exchange under the symbol YETI.

The underwriters for the offering are Merrill Lynch, Morgan Stanley, Baird, Piper Jaffray, Jefferies, William Blair, KeyBanc Capital Markets, SunTrust Robinson Humphrey, Wells Fargo, Raymond James, Stifel and Academy Securities.

This is a rapidly growing designer, marketer and distributor of premium products for the outdoor and recreation market. The brand promise is to ensure each product will deliver exceptional performance and durability in any environment. By consistently delivering on this promise, the company believes that it has built a following of passionate and engaged consumers, ranging from serious outdoor enthusiasts to individuals who value products of uncompromising quality and design.

The company maintains an active roster of Yeti Ambassadors, a group of world-class hunters, anglers, rodeo cowboys, barbecue pitmasters and outdoor adventurers who embody the brand.

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Yeti also directly engages with its consumers by sponsoring and participating in a variety of events, including sportsman shows, outdoor festivals, rodeos, music and film festivals, barbecue competitions, fishing tournaments and retailer events. The company believes its innovative consumer engagement reinforces the authenticity and aspirational nature of its brand and products across its expanding consumer base.

The company detailed its finances in the filing:

The increasing demand for our innovative products is evidenced by our net sales growth from $89.9 million in 2013 to $468.9 million in 2015, representing a compound annual growth rate, or CAGR, of 128%. Over the same period, our operating income increased from $15.2 million to $127.9 million, representing a CAGR of 190%.

The company intends to use the net proceeds from this offering to repay its indebtedness, with the remainder being put toward general corporate purposes. At the same time, the company will not receive proceeds from the sale of shares of the selling stockholders.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.