Peak Resorts Sets Terms for IPO
SAM Magazine--November 21, 2011--The Wall Street Journal reported that Peak Resorts announced today that it is offering 5 million common shares and expects the initial offering price to be between $16 and $18 per share. The company hopes to raise $85 million in the IPO and command a market value of $152 million. In addition, Peaks Resorts plans to pay quarterly cash dividends on its common stock at an initial rate of 17 cents per share-the first payment is scheduled for February 2012.
Peak Resorts operates 12 ski areas in the Midwest, Northeast and Southeast.