Snap One Holdings Corp. Announces Launch of its Initial Public Offering

CHARLOTTE, N.C., July 19, 2021 (GLOBE NEWSWIRE) -- Snap One Holdings Corp. (“Snap One”) today announced the launch of its initial public offering of 13,850,000 shares of its common stock pursuant to a registration statement filed with the Securities and Exchange Commission (the “SEC”). The initial public offering price is expected to be between $18.00 and $21.00 per share. Snap One has applied to list its common stock on the Nasdaq Global Select Market under the symbol “SNPO.”

Snap One intends to use the net proceeds from the offering to repay a portion of the term loan under its credit agreement plus accrued interest thereon as well as for general corporate purposes.

The offering is being made through an underwriting group led by Morgan Stanley, J.P. Morgan, Jefferies and UBS Investment Bank, who are acting as lead bookrunning managers; BMO Capital Markets, Raymond James, Truist Securities and William Blair, who are acting as joint bookrunning managers; and Drexel Hamilton, Penserra Securities LLC, R. Seelaus & Co., LLC and Siebert Williams Shank, who are acting as co-managers. Snap One and selling stockholders expect to grant the underwriters a 30-day option to purchase a total of up to an additional 2,077,500 shares of common stock at the initial public offering price less the underwriting discounts and commissions.

A registration statement on Form S-1, including a prospectus, which is preliminary and subject to completion, relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state 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.

The offering of these securities may be made only by means of a prospectus. Copies of the prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204 or by email at prospectus-eq_fi@jpmorganchase.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; or UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at (888) 827-7275 or by email at ol-prospectus-request@ubs.com.

About Snap One

Snap One powers smart living by providing a suite of products, services and software to professional do-it-for-me (“DIFM”) integrators. Our customers include professional DIFM integrators who deliver personalized, immersive experiences to the end consumer. With more than 2,800 proprietary SKUs and a growing network of over 16,000 domestic DIFM integrators, Snap One combines an end-to-end product ecosystem and technology-enabled workflow solutions which allows integrators to focus on their trade while leveraging the tools and infrastructure we deliver to build thriving and profitable businesses.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements, including with respect to the proposed initial public offering. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause Snap One’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Snap One assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Contacts

Media:

Abigail Hanlon
Director, Marketing Events & Public Relations
Abigail.Hanlon@SnapOne.com

Jordan Schmidt
Gateway Investor Relations
949-574-3860
SNPO@gatewayir.com

Investors:

Tom Colton and Matt Glover
Gateway Investor Relations
949-574-3860
SNPO@gatewayir.com