Green Bay Packers celebrate winning the NFL football match between the Green Bay Packers and the San Francisco 49ers on September 26, 2021 at Levi’s Stadium in Santa Clara, California.
Samuel Stringer | Sportswire Icon | Getty Images
Cheeseheads, buy your stock here!
The Green Bay Packers on Tuesday will offer to sell $ 90 million of “stock” in the NFL team to help fund improvements to Lambeau Field, just the sixth time in the legendary team history she offered promotions for the public.
The placement of the 300,000 shares will begin at 9 am ET Tuesday at $ 300 a share, Packers said in a statement Monday.
The sale, which runs until February 25, was approved at the end of October by the National Football League.
Shares have no base value and cannot be traded on open markets.
The Wisconsin-based state-owned non-profit corporation that owns Packers last sold its shares in 2011. Packer was previously traded in 1923, 1935, 1950 and 1997.
“Inventory in packers does not represent an investment in ‘inventory’ in the usual sense of the word,” the packers noted in a press release on the offer.
“Anyone considering buying Packers stock should not buy shares for profit, dividends, tax deductions or any other economic benefit.”
According to the team, approximately 5,009,000 Packers shares are currently held by approximately 361,300 shareholders.
Packers CEO Mark Murphy said: “We appreciate the interest shown by fans in our sixth IPO.”
“While we are not yet in a position to fully discuss the proposal, we do have some background information that we can share with the fans. We look forward to the official launch of the proposal tomorrow, ”Murphy said.
Buyers of shares must reside in the US, US Virgin Islands, Puerto Rico, or Guam and cannot buy more than 200 shares.
Shares purchased by a person through an offer of shares by the Packers in 1997-1998 and 2011-2012 count towards this maximum.
The team said: “Additional information, including an official placement document, will be available when the offer starts.”
“Interested fans will be able to access the full information tomorrow on the Internet at www.packers.com, – said the packers.