Latham & Watkins Advises Underwriters in Academy Sports and Outdoors, Inc.’s IPO

Academy Sports and Outdoors, Inc., one of the leading full-line sporting goods and outdoor recreation retailers in the United States, has announced the pricing of its initial public offering of 15,625,000 shares of its common stock at US$13 per share. Shares of Academy's common stock began trading on the NASDAQ Global Select Market on October 2, 2020, under the ticker symbol "ASO," and the offering is expected to close on October 6, 2020, subject to customary closing conditions. Academy has granted the underwriters a 30-day option to purchase up to an additional 2,343,750 shares of its common stock to cover over-allotments, if any. Academy will receive net proceeds of approximately US$182.8 million after deducting underwriting discounts and commissions and estimated offering expenses.

Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partners Marc Jaffe and Ian Schuman, with associates John Slater and Angel Marcial. Advice was also provided on tax matters by New York partner Lisa Watts, with associate Eric Kamerman; and on benefits & compensation matters by New York partner Bradd Williamson, with associates Max Raskin and Anne Bracaglia.