Accelevation Sets $18 Price for 30 Million-Share IPO

Accelevation Holdings Corp. priced its initial public offering at $18 per share, with 30 million Class A shares being offered. The company is selling 10 million shares, while selling stockholders affiliated with Olympus Partners are offering 20 million.

The selling stockholders also granted underwriters a 30-day option to buy up to 4,500,000 additional shares at the offering price, less discounts and commissions. Accelevation will not receive proceeds from the shares sold by those stockholders.

The shares are expected to begin trading on the Nasdaq Global Select Market on September 30 under the symbol ACCV. The offering is expected to close October 1, subject to customary closing conditions.

Accelevation plans to use its net proceeds to buy newly issued units in Accelevation Holdings LLC. The LLC intends to use the balance it receives to repay debt, cover offering and organizational transaction expenses, and for general corporate purposes.

Morgan Stanley and J.P. Morgan are joint lead bookrunning managers. Goldman Sachs, Barclays and BofA Securities are among the other bookrunning managers.