PARK CITY, Utah, July 19, 2011 (GLOBE NEWSWIRE) -- Skullcandy, Inc. today announced the pricing of its initial public offering of 9,441,693 shares of common stock at a price of $20.00 per share. Skullcandy is offering 4,166,667 shares and the selling stockholders are offering 5,275,026 shares. Certain selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,416,253 shares of common stock to cover over-allotments, if any. Skullcandy will not receive any proceeds from the sale of shares by the selling stockholders. The shares are expected to begin trading on The Nasdaq Global Market on July 20, 2011 under the ticker symbol "SKUL."
BofA Merrill Lynch and Morgan Stanley acted as joint bookrunners for the offering. Jefferies, Piper Jaffray, KeyBanc Capital Markets and Raymond James acted as co-managers.
The offering of these securities is being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, by contacting: BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department, E-mail: dg.prospectus_requests@baml.com; or Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd Fl., New York, NY 10014, Email: prospectus@morganstanley.com, Telephone: 1-866-718-1649.
A registration statement related to the shares of the common stock of Skullcandy has been declared effective by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or solicitation or any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Skullcandy, Inc.
Skullcandy is a leading audio brand that reflects the collision of the music, fashion and action sports lifestyles. The Skullcandy brand and distinctive logo symbolize youth and rebellion and embody the company's motto "Every revolution needs a soundtrack." Skullcandy headphones feature the distinctive Skullcandy sound and leading-edge design. Skullcandy products are currently sold in the United States, as well as in more than 70 countries around the world and through its website.