Heelys IPO officially launched on Thursday and the market priced the 6.425 million share offering well above original estimates. Heelys offered 3.125 million shares of common stock and certain existing stockholders offered the remaining 3.3 million shares. The offering was expected to sell for $16-$18 per share but sold for $21 per share, raising almost $135 million.
Underwriters Bear Stearns & Co. and Wachovia Securities have the option to buy another 937,500 shares to cover over-allotments.
Heelys, Inc. common stock will be listed on The NASDAQ Global Market under the symbol “HLYS.” The offering is expected to close on December 13, 2006.