Fender Musical Instruments— makers of iconic guitars favored by generations of musicians, from Buddy Holly to the man himself, Jimi Hendrix — has announced that its initial public offering (IPO) will be priced at $13 to $15 per share.
The company, which is the largest seller of guitars in the U.S., expects to sell 10.7 million shares — 7.1 million to be sold by Fender and 3.5 million to be sold by Weston Presidio, a private equity firm — a move that could raise as much as $160.7 million, according to a filing with the Securities and Exchange Commission.
Whew! $160.7 million? That’s a whole lotta guitar picks!
Randy – A Life Designed