Grill Company Weber Offers 46.9 Million Shares in IPO Priced at $15 to $17 Each

Weber Inc. WEBR,

set terms on Tuesday for its first public offering, with the grilling and outdoor cooking accessories maker plans to offer 46.9 million shares at a price of $15 to $17 apiece. The company would raise $797.3 million at the high end of that range. The company has applied for listing on the New York Stock Exchange, under the ticker ‘WEBR’. Goldman Sachs, BofA Securities and JP Morgan are lead underwriters in a syndicate of 12 banks. Proceeds from the deal will be used to pay off debt and for general corporate purposes. Weber reported net income of $73.8 million on revenue of $963.3 million for the six months ended March 31, after a profit of $23.6 million on revenue of $596.4 million in the same period a year ago. For the fiscal year ended September 30, 2020, net income increased to $88.9 million as revenue grew to $1.53 billion, following a $50.1 million profit on $1.30 billion in revenue. year before.