July 29, 2021
Traeger, Inc. has announced the pricing of its initial public offering of 23,529,411 shares of its common stock at a price to the public of US$18 per share. Of the offered shares, 8,823,529 are being offered by Traeger and 14,705,882 are being offered by certain of Traeger’s existing stockholders. Traeger will not receive any proceeds from the sale of the shares by the selling stockholders. The shares are expected to begin trading on the New York Stock Exchange on July 29, 2021, under the ticker symbol “COOK.” The initial public offering is expected to close on August 2, 2021, subject to customary closing conditions. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 3,529,411 shares of common stock from the selling stockholders at the initial public offering price, less the underwriting discounts and commissions.
Latham & Watkins LLP represents Traeger in the offering with a capital markets team led by New York partner Stelios Saffos, Orange County partner Shayne Kennedy, and New York partner Ian Schuman, with Orange County associate Ross McAloon, Chicago associate Ben Winnett, and New York associate Angel Marcial. Advice was also provided on tax matters by Washington, D.C. partner Andrea Ramezan-Jackson, with Washington, D.C. associate Ben Cheatham; on benefits & compensation matters by Los Angeles/Orange County partner Michelle Carpenter, with Washington, D.C. associate Courtney Thomson; on intellectual property matters by Orange County counsel David Kuiper, with Orange County associate Nathan Wages; and on public company representation matters by New York partner Jenna Cooper and New York counsel Emily Corbi, with New York associate Alicia Robinson.