The Finland-based sporting goods group Amer Sports Inc. wants to raise additional funds to pay off debt by issuing new shares.
On Monday evening, the parent company of brands such as Arc’teryx, Salomon, Wilson and Peak Performance announced a plan to place 34 million new shares. The subscribers would also have the option to purchase a total of 5.1 million additional shares within 3o days.
In a statement to the US Securities and Exchange Commission (SEC), the group said it expects revenue of around $870.7 million (€827.6 million). The calculation is based on the share price at the close of trading last Friday, which was $26.33. If the option is fully utilized, proceeds would be approximately $1.0 billion.
The group, which has been listed on the New York Stock Exchange since the beginning of February, currently intends to use the expected proceeds to repay part of its existing long-term loans. If the plans or the general conditions change, the management can also decide to use it differently, according to a statement.