Park City, Utah – Skullcandy, a manufacturer of high-end
headphones, has filed for an initial public offering (IPO) that hopes to raise
as much as $125 million. The offering will be led by underwriters Bank of
America-Merrill Lynch and Morgan Stanley.
Park City, Utah-based Skullcandy has
enlisted musicians including Snoop Dogg, Metallica and The Crystal Method, and
athletes including NBA stars James Harden and Deron Williams, and figures from
extreme sports as endorsers of its line of headphones.
The company reported sales
of $35.3 million in 2007, and $95 million for the first nine months of 2010.
Skullcandy will use the proceeds from the offering to repay debt, and for
general corporate purposes.