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Footwear retailer Heelys files registration statement

08 May '07

2 min read

Heelys Inc announced that it filed a registration statement with the Securities and Exchange Commission for the proposed offering of 8,000,000 shares of common stock held by Heelys, Inc. stockholders. Heelys, Inc. will not receive any of the proceeds from the sale of these shares.

In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares to cover over-allotments, if any. Bear, Stearns & Co. Inc., Wachovia Securities and JPMorgan are serving as joint bookrunners with Piper Jaffray, Banc of America Securities LLC, CIBC World Markets and Robert W. Baird & Co. serving as co-managers for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This news 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 laws of any such state or jurisdiction.

Heelys Inc designs, markets and distributes innovative, action sports-inspired products under the HEELYS brand targeted to the youth market. The Company's primary product, HEELYS-wheeled footwear, is patented dual purpose footwear that incorporates a stealth, removable wheel in the heel.

HEELYS-wheeled footwear allows the user to seamlessly transition from walking or running to skating by shifting weight to the heel. Users can transform HEELYS-wheeled footwear into street footwear by removing the wheel. HEELYS-wheeled footwear provides users with a unique combination of fun and style that differentiates it from other footwear and wheeled sports products.

Heelys Inc

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