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Under Armour Inc. is a multi-channel retailer and marketer of sports apparel and has set the terms of its initial public offering at between $7.50 and $9.50 per share
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Under Armour Inc. is a multi-channel retailer and marketer of sports apparel and has set the terms of its initial public offering at between $7.50 and $9.50 per share which could net the company has much as $90.2 million in new working capital. They are best known for the tight fitting undergarments athletes wear under their uniforms. Under Amour sells sports apparel to college athletes, professional athletes and to the public. They have annual e-commerce sales of $8.5 million and will use the proceeds to pay down debt. The initial public offering (IPO) was underwritten by Goldman Sachs, CIBC World Markets and Wachovia Securities and included 9.5 million shares (Bahchevanska, Y. 2005). Under Amour operates three e-commerce sites, its own network of four outlet stores, and sells products through a network of more than 8,000 retailers. The success of several IPO's of specialty apparel makers and retailers in the...
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