Funko announces IPO on the heels of its new Everett headquarters opening less than two months ago
The local pop culture consumer products company announced its plans for its initial public offering in October.
Funko, Inc., which is famous for its Pop! figures of well-loved mainstream characters and notable personalities, generated sales of $426.7 million last year with a profit of $26.9 million and maintains more than 200 licenses for characters in the Disney, DC Comics, and Star Wars canons and beyond.
Funko will open its IPO with more than 13 million shares of its Class A common stock, with more than 11 million being offered by the company and with much of the remainder being offered by selling stockholders.
The IPO price likely will be between $14 and $16 per share, which will be listed under the ticker symbol “FNKO” on the NASDAQ Global Select Market.
Joint lead book-running managers and representatives for the underwriters of the proposed offering include Goldman Sachs & Co. LLC, J.P. Morgan, and BofA Merrill Lynch. Piper Jaffray and Jefferies also are acting as joint book-running managers, while Stifel, BMO Capital Markets, and SunTrust Robinson Humphrey are acting as co-managers for the proposed offering.