Peak Resorts' flagship property, Mount Snow in Vermont. (file photo: Mount Snow)

Peak Resorts Sets Terms for IPO

Wildwood, MO – Peak Resorts, which operates 12 ski areas through the Midwest, Northeast and Southeast U.S., announced terms for its IPO on Monday.

Peak Resorts' flagship property, Mount Snow in Vermont. (photo: Mount Snow)
Peak Resorts' flagship property, Mount Snow in Vermont. (photo: Mount Snow)

The Wildwood, Mo.-based company plans to raise $85 million by offering five million shares at a price range of $16 to $18. At the mid-point of the proposed range, Peak Resorts will command a market value of $152 million.

Further, Peak Resorts plans to pay quarterly cash dividends on its common stock at an initial quarterly rate of $0.17 per share. The company intends to pay the first dividend in February 2012, which would include an amount on a pro-rated basis for the period from the effective date of this offering to January 31, 2012 and, thereafter, to pay dividends on a quarterly basis.

Peak Resorts, which was founded in 1997 and booked $98 million in sales for the 12 months ended April 30, 2011, plans to list on the NASDAQ under the symbol PEAK. The company operates Attitash, Crotched Mountain and Wildcat in New Hampshire; Boston Mills/Brandy Wine and Mad River Mountain in Ohio; Hidden Valley and Snow Creek in Missouri; Jack Frost/Big Boulder in Pennsylvania; Paoli Peaks in Indiana; and the company’s flagship property,  Mount Snow in Vermont.

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