UARM
- Thread starter vanbasten
- Start date
had to run earlier, but wanted to get it up on here earlier than now.
underarmour - is an athletic apparel company based in md. they are the largest growing athletic apparel company over the last 5 years. i carry their product in my stores. nike was in the mix to potentially buy them, but that is now off the table.
biggest nugget of information that i can give you is one of the largest bigbox sporting goods retailers in the country (who already carries the apparel from UA, and is projected to open 30-40 more stores in the next year, and has committed 25% of their retail presence for a new category the company is launching in '06. i have seen the product for this new category and it is awesome.
ipo was today at $13.00. opens to everyone tomorrow. have no idea what to expect initially, but regardless, has excellent potential over the next 6-12 months, imo.
underarmour - is an athletic apparel company based in md. they are the largest growing athletic apparel company over the last 5 years. i carry their product in my stores. nike was in the mix to potentially buy them, but that is now off the table.
biggest nugget of information that i can give you is one of the largest bigbox sporting goods retailers in the country (who already carries the apparel from UA, and is projected to open 30-40 more stores in the next year, and has committed 25% of their retail presence for a new category the company is launching in '06. i have seen the product for this new category and it is awesome.
ipo was today at $13.00. opens to everyone tomorrow. have no idea what to expect initially, but regardless, has excellent potential over the next 6-12 months, imo.
haven't got it yet, couldn't even get it until after 10am. first price that a little guy like me could get it was $31. had a limit order in wayyy below that.
primary was 7.50 to 9.50 - secondary market was supposed to open at 13-15$
could get it now at 24, but i'm holding off for now.
primary was 7.50 to 9.50 - secondary market was supposed to open at 13-15$
could get it now at 24, but i'm holding off for now.
AHHHH...ONLY THE RICH GET RICHER, AS THEY GOT THE OFFERING AT 13$
Updated: 02:43 PM EST
Under Armour soars in debut
By Scott Malone, Reuters
NEW YORK (Reuters) - Shares of athletic apparel maker Under Armour (UARM.O) doubled in their market debut on Friday, showing that a well-known brand name can help sell an initial public offering.
The shares rose to $26.14 on the Nasdaq, up from a $13 IPO price.
The 10-year old company, which last year recorded $14.3 million in net income on $205.2 million in revenues, this year has been heavily promoting its brand in TV ads.
"From what I understand from retail-type people, they can't keep this merchandise on the shelf. It just goes," said Sal Morreale, an institutional salesman who tracks IPOs for Cantor Fitzgerald in Los Angeles.
He added that having a well-known consumer brand is often a help in stimulating IPO demand.
"It always helps the company when they're very widely known and have name brand recognition," Morreale said.
Under Armour sold 9.5 million shares in the 12.1 million-share deal, which was worth $157.6 million. The Baltimore-based company plans to use the proceeds of the IPO to pay down debt and for general corporate purposes.
The company this week raised the target price range for its shares to $10 to $12, from an earlier forecast of $7.50 to $9.50.
Goldman Sachs & Co., a unit of Goldman Sachs Group Inc. (GS.N) was the lead underwriter on the offering.
Updated: 02:43 PM EST
Under Armour soars in debut
By Scott Malone, Reuters
NEW YORK (Reuters) - Shares of athletic apparel maker Under Armour (UARM.O) doubled in their market debut on Friday, showing that a well-known brand name can help sell an initial public offering.
The shares rose to $26.14 on the Nasdaq, up from a $13 IPO price.
The 10-year old company, which last year recorded $14.3 million in net income on $205.2 million in revenues, this year has been heavily promoting its brand in TV ads.
"From what I understand from retail-type people, they can't keep this merchandise on the shelf. It just goes," said Sal Morreale, an institutional salesman who tracks IPOs for Cantor Fitzgerald in Los Angeles.
He added that having a well-known consumer brand is often a help in stimulating IPO demand.
"It always helps the company when they're very widely known and have name brand recognition," Morreale said.
Under Armour sold 9.5 million shares in the 12.1 million-share deal, which was worth $157.6 million. The Baltimore-based company plans to use the proceeds of the IPO to pay down debt and for general corporate purposes.
The company this week raised the target price range for its shares to $10 to $12, from an earlier forecast of $7.50 to $9.50.
Goldman Sachs & Co., a unit of Goldman Sachs Group Inc. (GS.N) was the lead underwriter on the offering.
Under Armour's IPO doubles
First U.S. stock to rise 100% in trading debut in five years
The Baltimore-based maker of synthetic T-shirts that wick perspiration away from the skin worked Wall Street into a sweat in its stock market debut, with shares opening at $31, more than double its $13 price.
The performance marks the best opening day gain by a U.S.-based IPO since Transmeta (TMTA debuted in November 2000, according to Thomson Financial.
Under Amour raised $157 million in the IPO, offering 12.1 million shares via an underwriting group led by Goldman Sachs (GS:
The Goldman Sachs Group, Inc.
Signs of a strong debut came as Under Armour priced above its already-increased range of $10 to $12 a share. Earlier this week, the company had increased its price range from $7.50 to $9.50.
The company sold 9.5 million shares in the deal, with the remaining 2.6 million shares being sold by stockholders.
Renaissance Capital, which runs a fund for IPOs, lauded Under Armour's "well-known brand and strong prospects for growth in the athletic- and consumer-apparel markets." See full story.
The company traces its roots to 1995, when former University of Maryland special teams captain Kevin Plank "set out to develop a next generation T-shirt," Under Armour's IPO filing said. Plank, 33, now serves as CEO of the company.
The company launched its business with a synthetic shirt worn beneath an athlete's uniform or equipment, designed to provide "a snug fit, like a second skin, and remained drier and lighter," the company said.
Under Armour now sells shirts, shorts, underwear, outerwear, gloves and other offerings via 8,000 stores, up from approximately 500 retail stores in 2000.
The company reported net income of $13.8 million and revenue of $194 million in the first nine months of 2005, up from net income of $12.7 million and revenue of $136 million in the year-earlier period.
Under Armour eclipsed the 69% opening-day performance by International Securities Exchange (ISE:
international secs exch inc cl a which had been the biggest U.S.-based opener of 2005 thus far when the issue debuted last March.
First U.S. stock to rise 100% in trading debut in five years
The Baltimore-based maker of synthetic T-shirts that wick perspiration away from the skin worked Wall Street into a sweat in its stock market debut, with shares opening at $31, more than double its $13 price.
The performance marks the best opening day gain by a U.S.-based IPO since Transmeta (TMTA debuted in November 2000, according to Thomson Financial.
Under Amour raised $157 million in the IPO, offering 12.1 million shares via an underwriting group led by Goldman Sachs (GS:
The Goldman Sachs Group, Inc.
Signs of a strong debut came as Under Armour priced above its already-increased range of $10 to $12 a share. Earlier this week, the company had increased its price range from $7.50 to $9.50.
The company sold 9.5 million shares in the deal, with the remaining 2.6 million shares being sold by stockholders.
Renaissance Capital, which runs a fund for IPOs, lauded Under Armour's "well-known brand and strong prospects for growth in the athletic- and consumer-apparel markets." See full story.
The company traces its roots to 1995, when former University of Maryland special teams captain Kevin Plank "set out to develop a next generation T-shirt," Under Armour's IPO filing said. Plank, 33, now serves as CEO of the company.
The company launched its business with a synthetic shirt worn beneath an athlete's uniform or equipment, designed to provide "a snug fit, like a second skin, and remained drier and lighter," the company said.
Under Armour now sells shirts, shorts, underwear, outerwear, gloves and other offerings via 8,000 stores, up from approximately 500 retail stores in 2000.
The company reported net income of $13.8 million and revenue of $194 million in the first nine months of 2005, up from net income of $12.7 million and revenue of $136 million in the year-earlier period.
Under Armour eclipsed the 69% opening-day performance by International Securities Exchange (ISE:
international secs exch inc cl a which had been the biggest U.S.-based opener of 2005 thus far when the issue debuted last March.
i will be purchasing some of this, but feel it will settle back into the mid teens in the near future. i will at least wait until it goes below 20 to buy, and will continue to add any/all info in this thread.
dawgball said:
dawgball,
i actually got in at $26.00
was stubborn/arrogant/or just plain wrong to think it would dive below 20.
sucked it up and bought half of what i intended, but have reaped the benefits nonetheless.
some good things on the horizon, i am holding right now.
will try to bring any news to this thread more often.
