Public stock offering could generate up to 100 million dollars.
Wednesday, October 22, 2014, NewEnglandSkiIndustry.com
Peak Resorts, Inc. is in the midst of its second attempt to go public, according to a Form S-1 submitted to the SEC. The company previous attempted an a $40 million IPO in spring 2011 and an $85 million IPO in the fall of 2011, which it delayed due 'volatile market conditions.'
Peak Resorts operates 13 ski areas in the United States. It opened Crotched Mountain in New Hampshire in 2003, purchased Attitash in New Hampshire and Mount Snow in Vermont from American Skiing Company in 2007, and Wildcat in New Hampshire in 2010.
The pending event likely prompting the latest IPO attempt is a 10% interest only loan related to Mount Snow. $42.9 million is due on April 1, 2016.
According to the SEC Form S-1, Peak Resorts has $204 million in assets, $175 million in long term debt (most of it at 10% interest), and $3.5 million in stockholders' equity. The company reported 1.57 million skier visits and 182 thousand tubing visits in fiscal year 2014.