Intrawest Resorts Prices IPO At $12, Below Estimated Range - Quick Facts

(RTTNews) - Intrawest Resorts Holdings, Inc., a mountain resort and adventure company, announced the pricing of its initial public offering of 15.625 million common shares at $12.00 per share, below the estimated range. The offering is expected to close on or about February 5, 2014.

In the amended S-1 filing with the SEC, the company had expected the pricing between $15.00 and $17.00 per share.

The company, which was founded in 1976, priced 3.125 million common shares and an entity controlled by certain private equity funds managed by an affiliate of Fortress Investment Group LLC priced an additional 12.5 million shares of the company's common stock.

The selling stockholder has granted the underwriters a 30-day option to purchase additional 2.34 million shares of common stock.

The Denver, Colorado-based company shares to begin trading on the New York Stock Exchange under the symbol "SNOW" on January 31, 2014.

The company expects to receive offering net proceeds to be approximately $35.1 million after deducting underwriting discounts and commissions and before deducting estimated offering expenses.

The company intends to use offering proceeds for working capital and other general corporate purposes. The company said it will not receive any proceeds from the sale of common stock by the selling stockholder.

Goldman, Sachs & Co., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and BofA Merrill Lynch are acting as joint book-running managers and representatives of the underwriters in the offering.