COOK - Popular grill maker Weber is said to price IPO below range sells fewer shares

Popular grill maker Weber (WEBR) is said  to price its IPO at $14/share, below its expected range of $15-$17. Weber (WEBR) also downsized its IPO, selling 18M shares, rather than the almost 47M it originally intended to sell, according to a WSJ report. Weber (WEBR) wrote in its S-1 last week that it expected to net some $712.5M from the IPO if the offering prices at a midpoint $16 a share. Weber disclosed the 69-year-old company is profitable, with revenues expanding at about a 10% compound annual growth rate since 1980. The Weber IPO follows the public offering of high-end grill maker Traeger, which jumped 22% in its IPO debut last week. Last month, BBQGuys – an online barbecue retailer backed by legendary retired NFL quarterbacks Eli and Peyton Manning and their father, Archie – agreed to go public via a SPAC merger with Velocity Acquisition (NASDAQ:VELO) at an $96M equity value. Fire-pit company

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Popular grill maker Weber is said to price IPO below range, sells fewer shares