Somnigroup Announces Launch of Secondary Offering of Common Stock
DALLAS, May 12, 2025 /PRNewswire/ -- Somnigroup International Inc. (NYSE: SGI, "Company" or "Somnigroup") today announced the launch of a secondary offering (the "Offering") of 15,376,743 shares of its common stock, par value $0.01 per share, by the former majority shareholder of Mattress Firm Group Inc., which shareholder is a subsidiary of IBEX Topco B.V. (the "Selling Stockholder"). All of the shares of common stock are being sold by the Selling Stockholder, and Somnigroup will not receive any of the proceeds from the Offering.
Goldman Sachs & Co. LLC is acting as the sole underwriter for the Offering.
The shares of common stock are being offered pursuant to the Company's automatically effective shelf registration statement (and prospectus) on Form S-3 previously filed with the U.S. Securities and Exchange Commission (the "SEC"). The Offering will be made only by means of a preliminary prospectus supplement and the accompanying prospectus. Before you invest, you should read the preliminary prospectus supplement and the accompanying prospectus in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and the Offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, a copy of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that may be characterized as "forward-looking," within the meaning of the federal securities laws. Such statements might include information concerning one or more of the Company's plans, guidance, objectives, goals, strategies, and other information that is not historical information. When used in this release, the words "assumes," "estimates," "expects," "guidance," "anticipates," "might," "projects," "plans," "proposed," "targets," "intends," "believes," "will," "contemplates" and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements include, without limitation, statements relating to the Offering, the Company's expectations regarding the Mattress Firm acquisition, expectations regarding post-closing supply agreements, future performance, integration of acquired companies with our business, the Company's expected quarterly results, full year guidance and outperformance relative to the broader industry, the Company's quarterly cash dividend, the Company's expectations regarding geopolitical events (including the war in Ukraine and the conflict in the Middle East), the imposition of new tariffs or retaliatory tariffs, increases in existing tariffs and other changes in trade policy and regulations, loss of suppliers and disruptions in the supply of raw materials, the macroeconomic environment including its impact on consumer behavior, foreign exchange rates and fluctuations in such rates, the bedding industry, financial infrastructure, adjusted EPS for 2025 and subsequent periods and the Company's expectations for sales and adjusted EPS growth, product launches, expected hiring and advertising, capital project timelines, channel growth, acquisitions and commodities outlook. Any forward-looking statements contained herein are based upon current expectations and beliefs and various assumptions. There can be no assurance that the Company will realize these expectations, meet its guidance, or that these beliefs will prove correct.
Numerous factors, many of which are beyond the Company's control, could cause actual results to differ materially from any that may be expressed herein as forward-looking statements. These potential risks include Mattress Firm's ongoing operations; the ability to successfully integrate Mattress Firm into the Company's operations and realize synergies from the transaction; the possibility that the expected benefits of the acquisition are not realized when expected or at all; general economic, financial and industry conditions, particularly conditions relating to the financial performance and related credit issues present in the retail sector, as well as consumer confidence and the availability of consumer financing; the impact of the macroeconomic environment in both the U.S. and internationally on the Company; uncertainties arising from national and global events; industry competition; the effects of consolidation of retailers on revenues and costs; and consumer acceptance and changes in demand for the Company's products and the factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. There may be other factors that may cause the Company's actual results to differ materially from the forward-looking statements. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
About Somnigroup
Somnigroup (NYSE: SGI) is the world's largest bedding company, dedicated to improving people's lives through better sleep. With superior capabilities in design, manufacturing, distribution and retail, we deliver breakthrough sleep solutions and serve the evolving needs of consumers in more than 100 countries worldwide through our fully-owned businesses, Tempur Sealy, Mattress Firm and Dreams. Our portfolio includes the most highly recognized brands in the industry, including Tempur-Pedic®, Sealy®, Stearns & Foster®, and Sleepy's®, and our global omni-channel platform enables us to meet consumers wherever they shop, offering a personal connection and innovation to provide a unique retail experience and tailored solutions.
Somnigroup Investor Relations Contact
Aubrey MooreInvestor RelationsSomnigroup International Inc.800-805-3635Investor.relations@somnigroup.com
View original content:https://www.prnewswire.com/news-releases/somnigroup-announces-launch-of-secondary-offering-of-common-stock-302452284.html
SOURCE Somnigroup International
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
This Monster Growth Stock Is Up 167% in the Past Year and Disrupting the Healthcare Space
Hims & Hers is gaining market share in the telehealth sector and has a long runway to disrupt the healthcare industry. It is acquiring a company in order to enter Europe. The stock is expensive, but it may still be a great investment over the long term. 10 stocks we like better than Hims & Hers Health › Telehealth has gone through a major boom-and-bust cycle. One promising stock emerging from the bust is Hims & Hers (NYSE: HIMS). Through nifty marketing and an insurance-circumventing subscription model that delivers medicine directly to your front door, the company is taking a lot of share in the telehealth market. The stock has traded up 449% since going public, and it is up a staggering 158% in the past year. Disruptive innovation helped bring shareholders of Hims & Hers stock major gains. But does that make the stock a buy today? People in the United States get frustrated dealing with health insurance -- as you may know from personal experience. Hims & Hers aims to slowly disrupt the market with an innovative approach that bypasses insurers. It helps customers easily get generic medications that help deal with sexual health, hair loss, mental health, and other common concerns, by having prescriptions and shipments sent straight to their doors through monthly subscriptions. This model has helped Hims & Hers dominate the telehealth prescription market and reach $1.78 billion in trailing-12-month revenue. It's now trying to further expand its offerings by adding the branded weight loss drug Wegovy to its marketplace through a partnership with Novo Nordisk (NYSE: NVO). Previously, Hims & Hers sold weight loss drugs under an exemption because of supply shortages for the products, but with those shortages now resolved, it has to work with patent holders such as Novo Nordisk. Along with weight loss, it's also aiming to get into testosterone and menopause-related prescriptions. Today, Hims & Hers has 2.4 million active customers. Management believes there are over 100 million people who could utilize one of its products, giving the company a huge runway to grow. A key factor will be the new partnership for marketing Wegovy, which is an expensive subscription at an introductory discount offer of $549 a month. Usage of such drugs is growing like a weed, and could be a new growth avenue for Hims & Hers to pursue. Another huge step for Hims & Hers is international expansion. While countries vary in their approaches to healthcare and insurance, most people want easy-to-use products, affordable prices, and convenient at-home shipping regardless of where they live. Management hopes to supercharge international growth with its proposed buyout of competitor Zava in Europe. Zava serves the western European market with 1.3 million active customers in the United Kingdom, France, Germany, and Ireland. The combined company can utilize Hims & Hers' marketing expertise, increasing scale, and partnerships to bring this sought-after model to Europe. Global disruption of the healthcare space will give Hims & Hers an even larger runway for growth, while also allowing it to invest in new innovations -- including at-home patient testing and its own compounding manufacturing facility. Hims & Hers has grand ambitions to disrupt healthcare with its direct-to-consumer model, and Zava will give it even more scale to keep accelerating growth. It will be exciting to see what the combined company can do over the next decade. You can feel the excitement with Hims & Hers and its explosive revenue growth. Sales grew 111% year over year last quarter, and are expected to hit at least $2.3 billion in 2025. (They were just $100 million in 2020.) The company has a goal of reaching $6.5 billion in sales by 2030, which would make it one of the fastest-growing companies in the world this decade. This fast growth has created some high expectations for Hims & Hers stock. It now has a price-to-earnings ratio (P/E) of 79, which is a high trailing earnings multiple even for a fast-growing company. However, revenue is growing so quickly and with such high margins that the company may grow into this high valuation by the end of the decade. As noted, management has a goal of $6.5 billion in revenue in 2030. With 20% bottom-line profit margins -- easily doable with 77% gross profit margin over the last 12 months -- that would equate to roughly $1.3 billion in annual earnings in 2030. Today, the market cap is $12.3 billion, which would mean a P/E of just around 9.5 by 2030 if the market cap did not change (which is an unlikely scenario, but demonstrates that there is potential for the valuation to drop). Even with some shareholder dilution that raises the number of shares outstanding, the stock would be trading at a P/E of around 10 to 12 at the current share price (which is also likely to change). If you believe this rapid growth will continue over the long term, Hims & Hers stock will grow into its valuation. If you have any doubts about this pace of growth, shares should be considered overvalued at the moment. Before you buy stock in Hims & Hers Health, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Hims & Hers Health wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,395!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $858,011!* Now, it's worth noting Stock Advisor's total average return is 997% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Brett Schafer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Hims & Hers Health. The Motley Fool recommends Novo Nordisk. The Motley Fool has a disclosure policy. This Monster Growth Stock Is Up 167% in the Past Year and Disrupting the Healthcare Space was originally published by The Motley Fool
Business Wire
15 hours ago
- Business Wire
ABL Investors Have Opportunity to Join Abacus Global Management, Inc. Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Abacus Global Management, Inc. ('Abacus' or 'the Company') (NASDAQ: ABL) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Abacus is the subject of a report issued by Morpheus Research on June 4, 2025, titled: 'Abacus Global Management: This $794 Million SPAC Is Yet Another Life Settlements Accounting Scheme Manufacturing Fake Revenue by Systematically Underestimating When People Will Die.' According to the report, the Company changed its portfolio valuation methodology to make it appear more profitable than it actually is. The report also alleges that the Company uses unusual methodologies to calculate life expectancy estimates and its co-founders have 'red flags' in their past. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Business Wire
15 hours ago
- Business Wire
NWTN Investors Have Opportunity to Join NWTN Inc. Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of NWTN Inc. ('NWTN' or 'the Company') (NASDAQ: NWTN) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. NWTN disclosed on May 28, 2025, that it had received a determination notice from Nasdaq indicated that the Company's securities will be delisted for failing to comply with listing rules. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
