On Holding, the Swiss running shoe brand, raised the projected price range for its initial public offering from $18 to $20 to $20 to $22, according to an updated filing with the Securities and Exchange Commission.
The Zürich, Switzerland-based company now plans to raise $653 million by offering 31.1 million shares at a price range of $20 to $22. At the midpoint of the revised range, On Holding will raise 11 percent more in proceeds than previously anticipated.
The deal is expected to be priced this week.
On Holding was founded in 2010 and booked $616 million in sales for the 12 months ended June 30, 2021.
It plans to list on the NYSE under the symbol ONON. Goldman Sachs, Morgan Stanley, J.P. Morgan, Allen & Company, UBS Investment Bank, and Credit Suisse are the joint book runners on the deal.
