Investor Alert

press release

July 28, 2021, 11:57 p.m. EDT

Traeger Announces Pricing of Initial Public Offering

Traeger, Inc. (“Traeger”) announced today the pricing of its initial public offering of 23,529,411 shares of its common stock at a price to the public of $18.00 per share. Of the offered shares, 8,823,529 are being offered by Traeger and 14,705,882 are being offered by certain of Traeger’s existing stockholders. Traeger will not receive any proceeds from the sale of the shares by the selling stockholders. The shares are expected to begin trading on the New York Stock Exchange on July 29, 2021, under the ticker symbol “COOK.” The initial public offering is expected to close on August 2, 2021, subject to customary closing conditions.

In addition, the underwriters have been granted a 30-day option to purchase up to an additional 3,529,411 shares of common stock from the selling stockholders at the initial public offering price, less the underwriting discounts and commissions.

Morgan Stanley, Jefferies, Baird, and William Blair are acting as joint lead book-running managers for the initial public offering. Credit Suisse, RBC Capital Markets, BMO Capital Markets, Piper Sandler, and Stifel are also acting as book-running managers and Telsey Advisory Group, Academy Securities, AmeriVet Securities, Loop Capital Markets, and Ramirez & Co., Inc. are acting as co-managers for the initial public offering.

The offering is being made only by means of a prospectus. A copy of the final prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attn: Prospectus Department; Jefferies LLC, 520 Madison Avenue, 2nd Floor, New York, New York 10022, Attn: Equity Syndicate Prospectus Department; Robert W. Baird & Co. Incorporated., 777 East Wisconsin Avenue, Milwaukee, Wisconsin 53202, Attn: Prospectus Department; or William Blair & Company, L.L.C., 222 West Adams Street, Chicago, Illinois 60606, Attn: Prospectus Department.

A registration statement relating to the securities being sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission on July 28, 2021. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Traeger

Traeger Grills, headquartered in Salt Lake City, is the creator and category leader of the wood pellet grill, a versatile and easy to use outdoor cooking system. Traeger pellet grills use all-natural hardwood fuel to infuse food with flavorful smoke, making food taste delicious and most of all, memorable. Traeger pellet grills utilize wood-fired convection power to provide 6-in-1 versatility; owners can grill, smoke, bake, roast, braise and barbecue meals on one cooking system.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210728006149/en/

SOURCE: Traeger, Inc.

ICR, Inc.


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