Peak Resorts seeks $100M with IPO

SAM Magazine—Wildwood, Mo., Oct. 22, 2014—Peak Resorts has filed for an initial public offering of its common stock, seeking to raise up to $100 million.

Peak Resorts filed a prospectus with the Securities Exchange Commission Monday. This is its second attempt to go public: In 2011, Peak filed for an $85 million IPO that was eventually postponed. It withdrew that filing in late September.

The most recent filing values Peak Resorts at approximately $150 million. Peak says it plans to use $80 million of the proceeds to repay debt. Funds may also be used to purchase land and for working capital, as well as general corporate purposes. If the IPO is successful, Peak will trade on the Nasdaq under the symbol SKIS.

In support of its aims, Peak said its 13 ski resorts totalled 1.8 million visits in the last ski season, an increase of four percent from the prior ski season. Peak’s revenue rose to $105.2 million in fiscal 2014, up 5.5 percent from $99.7 million in 2013. Operating income was $15 million for the year, down 11 percent from 2013.

http://www.saminfo.com/news/peak-resorts-files-100-million-ipo

Aren't these the geniuses that forgot to renew their Park City lease?

Not going to be many takers I would think

No, Powdr Corporation forgot to renew the Park City lease.  This is Peak Resorts.  They operate Mount Snow as well as some other places in the east.

I grew up skiing at Peak's first "mountain" (all 300' of vert) in St. Louis.  These guys are no slouches.  They pretty much do Sno's perfect model... fast lifts and tons of snow making.  In St. Louis you needed it... they ran the hell out the that hill.  It was open from 8am to 3am on weekends.  Snow guns ran every night.  Mountain was always packed.  If a company can figure out how to make money in Missouri, Ohio, and Indianna they have figured something out that few have... and the guy who owns the thing does not even ski if that says anything.  

...Not my ideal way to go, but they are going to be a force to be reckoned with.  He is racking up mountains in New Hampshire pretty fast.    

I believe they own jf/bb down here in peeyay. Word is they're planning on opening the bb wrod next weekend