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Traeger Announces Launch of Initial Public Offering
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Traeger Announces Launch of Initial Public Offering

SALT LAKE CITY–(BUSINESS WIRE)–TGPX Holdings I LLC (“Traeger”) announced today the launch of its initial public offering of 23,529,411 shares of its common stock. The offering consists of 8,823,529 shares of common stock offered by Traeger and 14,705,882 shares of common stock to be sold by certain of Traeger’s existing stockholders. Traeger will not receive any proceeds from the sale of the shares by the selling stockholders. The underwriters will have a 30-day option to purchase up to 3,529,411 shares of common stock from the selling stockholders at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is currently expected to be between $16.00 and $18.00 per share. Traeger has applied to list its common stock on the NYSE under the symbol “COOK.”

Morgan Stanley, Jefferies, Baird, and William Blair are acting as joint lead book-running managers for the proposed offering. Credit Suisse, RBC Capital Markets, BMO Capital Markets, Piper Sandler, and Stifel are also acting as book-running managers and Telsey Advisory Group, Academy Securities, AmeriVet Securities, Loop Capital Markets, and Ramirez & Co., Inc. are acting as co-managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering, when available, may be obtained from: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attn: Prospectus Department; Jefferies LLC, 520 Madison Avenue, 2nd Floor, New York, New York 10022, Attn: Equity Syndicate Prospectus Department; Robert W. Baird & Co. Incorporated., 777 East Wisconsin Avenue, Milwaukee, Wisconsin 53202, Attn: Prospectus Department; or William Blair & Company, L.L.C., 222 West Adams Street, Chicago, Illinois 60606, Attn: Prospectus Department.

A registration statement on Form S-1 relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Traeger

Traeger Grills, headquartered in Salt Lake City, is the creator and category leader of the wood pellet grill, a versatile and easy to use outdoor cooking system. Traeger pellet grills use all-natural hardwood fuel to infuse food with flavorful smoke, making food taste delicious and most of all, memorable. Traeger pellet grills utilize wood-fired convection power to provide 6-in-1 versatility; owners can grill, smoke, bake, roast, braise and barbecue meals on one cooking system.


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ICR, Inc.

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