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Fox Factory hopes to raise $182 million with new stock offering

Published June 18, 2020

BRASELTON, Ga. (BRAIN) — Fox Factory Holding Corp. has priced a new common stock offering at $76 per share, which could generate as much as $182.4 million before commissions and other expenses. Fox plans to close on the offering of 2.4 million shares on June 22. 

Fox first announced the offering on Wednesday for 2.0 million shares, then upped it to 2.4 later Wednesday. The company said proceeds from the offering will be used for "general corporate purposes."

Fox's stock closed down 5.8% Wednesday, at $82.48 per share. 

Fox's Specialty Sports Group, comprised of its bicycle-related brands Fox, Marzocchi, Race Face and Easton, had sales of about $300 million last year. Its Powered Vehicle Group had sales for $451 million.

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