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Investing

Tumi IPO Goes Big (TUMI, SPLK)

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By Paul Ausick Updated Published
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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.

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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