Snap One IPO Makes Debut at $18 Per Share

After announcing its intention to go public in May, Snap One’s common stock has begun trading on the Nasdaq Global Select Market under the symbol “SNPO.”

CHARLOTTE, N.C. — Snap One Holdings Corp. has announced the pricing of its initial public offering of 13,850,000 shares of its common stock at $18 per share. Shares of Snap One’s common stock are expected to begin trading on the Nasdaq Global Select Market on July 28, 2021 under the symbol “SNPO,” and the offering is expected to close on July 30, 2021, subject to customary closing conditions.

Snap One and selling shareholders have granted the underwriters a 30-day option to purchase a total of up to an additional 2,077,500 shares of common stock at the initial public offering price less the underwriting discounts and commissions.

The company intends to use the net proceeds from the offering to repay a portion of the term loan under its credit agreement plus accrued interest thereon as well as for general corporate purposes.

The Snap One IPO is being made through an underwriting group led by Morgan Stanley, J.P. Morgan, Jefferies and UBS Investment Bank, who are acting as lead bookrunning managers; BMO Capital Markets, Raymond James, Truist Securities and William Blair, who are acting as bookrunning managers; and Drexel Hamilton, Penserra Securities LLC, R. Seelaus & Co., LLC and Siebert Williams Shank, who are acting as co-managers.

A registration statement on Form S-1 relating to these securities has been declared effective by the Securities and Exchange Commission. The offering of the Snap One IPO securities may be made only by means of a prospectus.

Snap One rebranded from SnapAV last month, with CEO John Heyman citing, “The name ‘SnapAV’ no longer fully represents who we are or our aspirations for the future,” Heyman says. “We kept the name ‘Snap’ because of our ongoing mission to make our partners’ lives easier. Snap One builds upon this legacy and reinforces our aspiration to be the integrator’s most valued and most trusted partner.”

Snap One originally announced its intention to become a publicly owned company in May.

Copies of the prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204 or by email at prospectus-eq_fi@jpmorganchase.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; or UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at (888) 827-7275 or by email at ol-prospectus-request@ubs.com.

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