The company priced 3,125,000 shares of its common stock and an entity controlled by certain private equity funds managed by an affiliate of Fortress Investment Group LLC priced another 12,500,000 shares of the company’s common stock.
Selling stockholder has granted the underwriters a 30-day option to purchase up to an additional 2,343,750 shares of common stock. Shares are expected to begin trading on the New York Stock Exchange under the symbol “SNOW” Jan. 31. It will close Feb. 5 subject to the satisfaction of primary closing conditions.
Net proceeds are expected to be $35.1 million expected to be used for working capital and other general corporate purposes, which may include potential investments in, and acquisitions of ski and adventure travel businesses and assets. Intrawest owns interests in seven four-season mountain resorts as well as in Canadian Mountain Holidays heli-skiing company.
Photo: Winter Park, Colo., one of seven Intrawest resorts (Winter Park/Facebook)