FAIRHAVEN – Acushnet Holdings Corp., the maker of Titleist golf balls and clubs and FootJoy shoes and performance clothing, aims to raise up to $464 million through an initial public offering.
The company will offer 19.3 million shares of common stock costing from $21 to $24 per share. Following the IPO, Acushnet estimates having 74.1 million shares of outstanding common stock, for a market value of $1.8 billion (at $24 per share).
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Acushnet plans to use the IPO money to introduce new products, grow its business lines and expand globally, according to a federal filing submitted to the U.S. Securities and Exchange Commission on Oct. 17.
Acushnet owns manufacturing, and research and development facilities in Fairhaven; North Dartmouth; New Bedford; Brockton, Mass.; and southern California, as well as in China, Japan and Thailand. •
