The company behind leading sporting goods brands Bauer and Easton went public on January 19, offering sports enthusiasts and investors an opportunity to get in the game.
Performance Sports Group, trading under the symbol PSG on the New York and Toronto stock exchanges, offered roughly seven million shares priced at $15.50 which generated gross proceeds of $110 million. In conjunction with the offer, the company changed its name to Performance Sports Group from Bauer Performance Sports.
The company intends to use a portion of the proceeds to repay debt associated with the acquisition of the Easton baseball and softball business. In addition to Bauer, which is a well known hockey brand, and Easton, the company’s other brands include Mission, Maverik, Cascade, Inaria and Combat.