View Full Version : Cabela's sets IPO terms
06-09-2004, 07:10 AM
Cabela's sets IPO terms
Hunting equipment retailer plans IPO of 9.375M shares at between $15 and $17 a share.
June 7, 2004: 11:51 AM EDT
WASHINGTON (Reuters) - Cabela's Inc., which sells hunting, fishing, camping and related outdoor merchandise, set on Monday its planned initial public offering at 9.375 million shares at an estimated price between $15 and $17 per share.
The Sidney, Nebraska, company disclosed the IPO terms for the first time in an amended offering document filed with the U.S. Securities and Exchange Commission.
Under the proposed terms, the company will sell 6.25 million shares and holders will sell another 3.125 million shares, according to the recent offering document.
The underwriters, led by Credit Suisse First Boston and J.P. Morgan, will have the option to buy more than 1.4 million more shares in the event of heavy demand for the shares.
The company has applied to list its shares on the New York Stock Exchange under the symbol "CAB."
06-09-2004, 08:09 AM
With all the money I send there way, I should already be considered a stockholder http://www.jesseshunting.com/forums/style_emoticons/<#EMO_DIR#>/smiley-cool-shades-down.gif
06-09-2004, 09:47 AM
WHen does it come out, and how can I buy some?
Can anyone help??
06-09-2004, 09:52 AM
Maybe Coondog can earmark us some shares for all his JHO buddies?????
I have a feeling this will be one issue that will be thinly distributed to only the biggest and best clientele.
06-09-2004, 10:10 AM
Unfortunately Colusa.. That is pretty much the case with all IPO's nowadays.. As we discussed before when the news about Google came out, it is probably better to wait a little bit and let it settle and then go from there.. Definitely a lot easier to get your hands on it then...
06-09-2004, 10:28 AM
Yup...and that's the way it is. I knew I was born to the wrong family!!!!
06-09-2004, 10:36 AM
I've done well with Sportsman's Guide (SGDE), from $6 to $20 in two years. Would expect CAB to IPO then drop back some as the market evaluates. I agree with most that we all deserve shares after giving them our business over the years. That's one reason I got into SGDE. Good luck on any that invest.
06-24-2004, 10:42 AM
Cabela's is set to price tonight... Have been hearing really good things about it. Rumor has it that demand for the deal is in overdrive right now!!
I will let you know the details at market close today....
06-24-2004, 02:58 PM
Cabela's IPO priced at $20/shr-underwriter
Thursday June 24, 5:51 pm ET
NEW YORK, June 24 (Reuters) - Cabela's Inc., which sells hunting, fishing, camping and related outdoor merchandise, priced its initial public offering of 7.813 million shares at $20 per share, the underwriter said on Thursday.
The Sidney, Nebraska retailer earlier in the day raised its estimated price range to $19 to $20 per share from an earlier range of $15 and $17 per share. It initially filed to offer 9.375 million shares, but in an amended filing reduced the number of shares offered to 7.813 million.
Major selling stockholders roughly halved the amount of shares they planned to offer, according to an amended filing with U.S. Securities and Exchange Commission.
The underwriters' have the option to buy 1.172 million shares to cover over-allotments. The underwriters are led by Credit Suisse First Boston and J.P. Morgan.
06-25-2004, 07:07 AM
Shares were offered at $20 and trading right now at $28.40/share!! We did not get an allocation..... http://www.jesseshunting.com/forums/style_emoticons/<#EMO_DIR#>/smiley-shakehead-blue.gif
06-25-2004, 08:52 AM
here they are with the opening bell
06-29-2004, 09:48 AM
Cabela's shares leap in NYSE trading debut
FREE PRESS NEWS SERVICES
June 26, 2004
The owner of one of Michigan's largest private tourist attractions went public Friday and posted a 30-percent gain during its first day of trading.
Cabela's Inc. shares jumped Friday on the New York Stock Exchange, propelled by increased investor interest in outdoor sporting-goods retailers. The stock of the Sidney, Neb.-based company closed at $26, up $6 from the initial public offering price of $20 a share for 7.8 million shares. The IPO raised $156.3 million for the company.
The offering price was at the high end of recent estimates of $19 to $20 a share, a range that was raised from original price talk of $15 to $17 a share.
A longtime outdoor products catalog giant, Cabela's is using the IPO money to help expand its retail outlets from nine to 12 stores. Its store in Dundee off U.S.-23 opened with great fanfare in 2000 and is the second-largest store in the chain, at 228,000 square feet. More than 6 million people visit it every year, and it has attracted several spin-off developments at the intersection of U.S.-23 and M-50.
Credit Suisse First Boston and J.P. Morgan Chase & Co. led the IPO.
The company specializes in selling outdoor recreation equipment, namely for hunting and fishing. It mailed 37 million catalogs during the first quarter.
"Cabela's is the big name in the field," said David Menlow, president of IPO research firm IPOFinancial.com. "There were a series of external events outside of Cabela's that really set the stage for this deal being stronger than what was indicated."
Cabela's is the second outdoor products retailer to come to market this year. A competitor, Gander Mountain Co., closed 38-percent above its offering price in its debut in April.
Earlier this week, Dick's Sporting Goods Inc. agreed to acquire Galyan's Trading Co., another Cabela's competitor, for $16.75 a share. That represented a 51-percent premium to Galyan's share price and "put a whole new valuation on Cabela's deal," said Sal Morreale, who tracks IPOs for Cantor Fitzgerald LP in Los Angeles.
Cabela's has been consistently profitable for several years. In the first quarter, the company reported net income of $8 million on revenue of $313.9 million, according to offering documents filed with the Securities and Exchange Commission.
In the corresponding quarter a year ago, the company booked $262.3 million in revenue, for net income of $3.1 million.
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