Case Study: Fox Factory
Baird Bought and Placed Over 4 Million Shares to Provide Liquidity for FOXF Shareholders
- Traded up 5.5% on its first day of trading post-offer
- Baird priced the deal at a discount to last trade of 7.7%
- Placed ~75% of the shares to new investors and allowed current holders to increase their positions
- The offering provided $80mm+ of liquidity for holders Compass Group and Robert Fox
- Baird’s institutional salesforce made over 400 calls to 150+ different investors
- The transaction marked Baird’s third offering for Fox Factory since acting as the lead bookrunner on the initial public offering in 2013
Bought Deals are The New Reality
- 45% of follow-on offerings YTD have been executed through bought deal transactions
- Baird provides liquidity to existing shareholders by efficiently executing these transactions
- Baird is increasing the existing shareholder base and adding new investors for issuers
Baird has participated in 6 bought deal offerings in 2016, raising nearly $1 billion
