Fender Musical Instruments Corporation Set to Go Public with $200 Million IPO
You can now not only own a Fender guitar, but a piece of Fender as well.
It was announced today that Fender Musical Instruments Corp. plans to go public with a $200 million IPO (Initial Public Offering), around $100 million of which will go toward paying off debt.
In a statement to the Securities and Exchange Commission, the company said, "The Fender brand in particular is closely associated with the birth of rock and roll and has a strong legacy in music and in popular culture."
The number/price of shares to be offered by the company has yet to be revealed, but it is known that the company plans to list "FNDR" on NASDAQ.
Aside from their iconic flagship brand, Fender Musical Instruments Corp. manufactures and sells instruments under other brands, including Squier, Jackson, Guild, Latin Percussion and Ovation.
You can read more here.