On Announces Pricing Of Initial Public Offering
On, a Swiss performance sportswear brand, announced its initial public offering (IPO) pricing of 31,100,000 Class A ordinary shares at $24.00 per share. Of these, 25,442,391 shares are being offered by On, while 5,657,609 shares are from selling shareholders. The offering includes an underwriter option for an additional 4,665,000 shares. Trading is set to commence on the New York Stock Exchange under the symbol 'ONON' on September 15, 2021, with closing expected on September 17, 2021, pending customary conditions.
- Initial public offering priced at $24.00 per share, with a substantial number of shares being offered.
- Opportunity for underwriters to purchase additional shares, potentially increasing funding.
- Potential dilution of shares due to the large number of shares offered.
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ZURICH, Sept. 14, 2021 /PRNewswire/ -- Swiss performance sportswear brand On announced today the pricing of its initial public offering of 31,100,000 Class A ordinary shares at a public offering price of
The closing of the offering is expected to occur on September 17, 2021 subject to the satisfaction of customary closing conditions.
Goldman Sachs & Co. LLC, Morgan Stanley and J.P. Morgan are acting as joint lead book-running managers for the proposed offering, with Allen & Company LLC, UBS Investment Bank, and Credit Suisse acting as joint book-running managers. Baird, Stifel and Telsey Advisory Group are acting as co-managers for the proposed offering.
A registration statement on Form F-1 relating to the proposed offering has been filed with the U.S. Securities and Exchange Commission and was declared effective on September 14, 2021. The proposed offering is being made only by means of a prospectus. Copies of the preliminary prospectus relating to the proposed offering may be obtained from Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 866-471-2526 or by email at prospectus-ny@ny.email.gs.com; Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmorganchase.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or 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. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About On
On was born in the Swiss Alps with one goal: to revolutionize the sensation of running by empowering all to run on clouds. Eleven years after market launch, On delivers industry-disrupting innovation in premium footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. Fueled by customer-recommendation, On's award-winning CloudTec® innovation, purposeful design and groundbreaking strides in sportswear's circular economy have attracted a fast-growing global fanbase — inspiring humans to explore, discover and dream on.
On is present in more than 60 countries globally and engages with a digital community on www.on-running.com.
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SOURCE On Inc.
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