PE-backed Acushnet prices IPO below expected range
October 31, 2016
Recreational Goods | Fairhaven, MA | IPO
Acushnet (NYSE: GOLF) has raised $329 million in a scaled-back IPO of 19.3 million shares sold at $17 apiece, below an announced range of $21 to $24. The company is a designer and distributor of golf products, operating brands such as Titleist, FootJoy and Scotty Cameron. A fund co-managed by Blackstone and Woori Financial Group owns a 12% pre-IPO stake. The company's stock ended the trading day Friday at $17.79 per share, about a 5% uptick from the IPO price.