Fox Racing Shox has submitted official documents to become a publicly traded company in an initial public offering potentially worth $120 million. The firm, an automotive venture, is a maker of high-end suspension platforms for a wide range of vehicles including motocross, mountain bikes and all-terrain vehicles.
The company is currently just waiting the final announcement for the market debut before it kicks off its expansion programs. Registration of the documents were submitted recently on behalf of the Fox Factory Holding Corp. The result could be as shortly as next month, according to Katie Turner, a representative of the deal.
Details of the number of shares to be offered and price range are not yet known. Fox will issue and sell a portion of the shares and a few of its stockholders will sell a fraction.
Briefly after the company was incorporated in 2007, publicly held Compass Group Diversified Holdings LLC, an equity investment firm, bought a major stake in the company.
Based on the records filed with the Securities Exchange Commission, Fox Shox' sales records have been strong and steadily going up .
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