WASHINGTON (dpa-AFX) - Funko, the Everett, Washington-based maker of pop figurines, is scheduled to complete its initial public offering, which it expects will raise proceeds of nearly $245 million if the offering is successful.
The company plans to price the shares between $14 and $16 per share. Funko itself will sell 11.6?million shares, while shareholders will sell 1.7?million shares. A further 2 million shares would be offered to cover over allottment.
Funko plans to trade on the Nasdaq Global Select Market under the symbol 'FNKO.'
Funko generated sales of $426.7 million in 2016 and recorded a profit of $26.88 million.
The company, which has about $319 million in debt, plans to use the IPO proceeds to pay off some of the debts.
The IPO is being led by Goldman Sachs, JP Morgan and BofA Merrill Lynch.
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