Snap One Holdings, which provides a suite of smart home products to professional integrators, raised $249 million by offering 13.85 million shares at $18, the low end of the $18 to $21 range
Snap One provides an end-to-end smart product ecosystem and workflow solutions to over 16,000 professional integrators to create connected homes and small businesses. The vertically-integrated company's product ecosystem includes 2,800 proprietary SKUs as well as a curated set of third-party products, including home entertainment systems, audio systems, home security systems, smart lighting, and home networking products.
The Charlotte, NC-based company plans to list on the Nasdaq under the symbol SNPO. Morgan Stanley, J.P. Morgan, Jefferies, UBS Investment Bank, BMO Capital Markets, Raymond James, Truist Securities, and William Blair acted as joint bookrunners on the deal.
