Goode Partners is please to announce that its portfolio company, Skullcandy, Inc., priced its initial public offering last evening at a price of $20.00 per share. As a result of strong investor demand, the Company was able to price the offering above the $17 - $19 per share filing range as well as upsize the offering by one million shares to a total of 9,441,693 shares. BofA Merrill Lynch and Morgan Stanley acted as joint bookrunners for the offering. Jefferies, Piper Jaffray, KeyBa c Capital Markets and Raymond James served as co-managers.
In connection with the transaction, Goode sold approximately one-third of its ownership interest and has now realized total cash proceeds equal to 1.2x its investment, while retaining more than two million shares in the Company. Goode completed its investment in Skullcandy in November 2008 during the depths of the financial crisis.
The Company will trade on the NASDAQ under the ticker SKUL
About Goode Partners
Goode Partners LLC is a New York-based private equity firm that focuses exclusively on investment opportunities in the retail, restaurant, apparel, direct marketing and branded consumer products sectors. The firm has established itself as a partner of choice by leveraging its unique combination of investment capital, a team of professionals with experience investing in and operating some of the world’s premiere consumer brands, and an extensive industry network. Goode seeks to partner with the owners and managers of well-positioned, high-growth potential consumer-oriented companies. More information on Goode Partners and its team can be found on the firm’s website, goodepartners.com.
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