Colorado-based cableco Wide Open West (WOW!) has revealed its target initial public offering (IPO) price range in a filing with the US Securities and Exchange Commission (SEC). The cable operator plans to sell 19 million shares for between USD20 and USD22 per share, potentially raising between USD380 million and USD418 million. According to the filing, the company plans to list on the New York Stock Exchange (NYSE), with the ticker symbol ‘WOW’. UBS Investment Bank and Credit Suisse are acting as lead joint book running managers, while RBC Capital Markets, SunTrust Robinson Humphrey, Evercore ISI and Macquarie Capital are also involved in the book running process.
Following the IPO, WOW! will continue to be controlled by its private equity backers, Avista Capital Partners and Crestview Partners, which will see their respective equity stakes reduced to 44% and 29%. The majority shareholders are likely to be subject to lock-up agreements prohibiting them from selling their shares for six months after the IPO.