Academy Sports and Outdoors and Selling Stockholders Complete $834 Million Secondary Offering and Concurrent Share Repurchase
09.22.21
This is only gets display when printing
Simpson Thacher recently represented Academy Sports and Outdoors, Inc. (“Academy”) and entities affiliated with Kohlberg Kravis Roberts & Co. L.P. (“KKR”) in connection with a secondary offering of common stock of Academy by KKR. The offering of 18,645,602 shares of Academy’s common stock raised approximately $834.4 million in gross proceeds, with the selling stockholders receiving all of the proceeds from the offering. Concurrently, Academy effected a $200 million share repurchase from the underwriters of the secondary offering out of the shares sold in the offering.
Academy is one of the leading full-line sporting goods and outdoor recreation retailers in the United States. Originally founded in 1938 as a family business in Texas, Academy has grown to 259 stores across 16 contiguous states, primarily in the southern United States.
The Simpson Thacher team included Joe Kaufman and Arielle Katzman (Capital Markets); Jennifer Nadborny and Charles Mathes (Public Company Advisory Practice); and Sophie Staples (Tax).