Academy Sports activities + Open air Publicizes Secondary Providing of Frequent Inventory and Concurrent Share Repurchase | Information


KATY, Texas, May 3, 2021 / PRNewswire / – Academy Sports and Outdoors, Inc. (“Academy”) (NASDAQ: ASO) announced today that some of its shareholders (the “Selling Shareholders”), including affiliates of Kohlberg Kravis Roberts & Co. LP , intend to do so, offering to sell in a secondary subscription offering 14,000,000 common shares of the Academy, pursuant to a registration notice filed by the Academy with the US Securities and Exchange Commission (“SEC”). Selling shareholders expect to grant subscribers a 30-day option to purchase up to an additional 2,100,000 additional common shares of the Academy. The Academy does not sell any shares. The selling shareholders will receive all of the proceeds from this offer.

The Academy announced that, subject to the completion of the Offer, it intends to repurchase from subscribers a number of shares of the 14,000,000 common shares for a total purchase price of up to $ 100 million at a price per share, the price at which the Subscribers buy the shares from the selling shareholders. The completion of the share buyback depends on the completion of the offer and is expected to take place at the same time, provided other customary conditions are met. The offer is not tied to the completion of the share buyback.

Credit Suisse, JP Morgan, KKR Capital Markets LLC and BofA Securities are acting as joint bookrunning managers for the proposed offering.

The offer of these securities will only be made by means of a prospectus. Copies of the preliminary prospectus are available from: Credit Suisse Securities (United States) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, by phone at 800-221-1037 or by email at [email protected]; or JP Morgan Securities LLC, c / o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by phone at 866-803-9204 or by email at [email protected]

A preliminary and fully fillable registration statement for these securities has been filed with the SEC, but has not yet entered into force. Such securities may not be sold or accepted offers to buy prior to the effective date of the registration declaration and, even then, the securities may only be sold in accordance with the registration declaration and the final prospectus. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities or securities, nor may there be any sale of securities in any state or jurisdiction in which such offer, solicitation or solicitation Selling previously would have been unlawful for registration or qualification under the securities laws of such state or jurisdiction.

Academy is a leading retailer of sporting goods and outdoor recreation in the United States. Originally founded as a family business in 1938 TexasThe academy has grown to 259 stores in 16 contiguous states. The Academy’s mission is to provide “fun for everyone”. The Academy accomplishes this mission with a localized merchandising strategy and value proposition that creates a strong connection with a wide range of consumers. The Academy’s product range focuses on key categories of outdoor, apparel, sports & leisure and footwear through leading national brands and a portfolio of 19 private labels that go well beyond the traditional range of sporting goods and apparel.

Forward-Looking Statements

The statements in this press release that are not historical facts are forward-looking statements. These forward-looking statements are based on the Academy’s current expectations and are not guarantees of future performance. The forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Actual results could differ materially from these expectations due to changes in global, regional or local economic, business, competitive, market, regulatory and other factors, many of which are beyond the control of the Academy. Important factors that could cause actual results to differ materially from the forward-looking statements are set forth in the Academy’s filings with the SEC, including its registration statement on Form S-1 and its annual report on Form 10-K for the fiscal year completed January 30, 2021under the heading “Risk Factors” as amended from time to time. All forward-looking statements in this press release speak only as of the date of this press release. The Academy assumes no obligation to publicly update or revise any forward-looking statements as a result of new information, future developments or for any other reason, unless this is required by applicable securities laws.

SOURCE Academy Sport + Outdoors


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