Premium luggage maker and lifestyle brand Tumi Holdings Inc. (NYSE: TUMI) priced its IPO at $18/share, a buck above the projected range. The really good news for the company is that the price jumped to a high of $26.80 before pulling back a little to $25.70.
The company expects to raise about $264 million in net proceeds and plans to use the cash to buy back all its preferred shares and some of the common stock owned by European private equity firm Doughty Hanson & Co Managers Ltd.
Tumi’s IPO is one of two hot offerings this morning. We covered the Splunk Inc. (NASDAQ: SPLK) IPO earlier today.
“The Next NVIDIA” Could Change Your Life
NVIDIA has returned 250-fold in the past 10 years as artificial intelligence took off.
But if you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.
The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”
The report outlines key breakthroughs in AI and the stocks ready to dominate the next wave of growth. The report is absolutely free. Simply enter your email below
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.