On (ONON) IPO Opens 48% Higher

Today's IPO for On (NYSE: ONON) opened for trading at $35.40 after pricing 31,100,000 Class A ordinary shares at a public offering price of $24.00 per share.

Goldman Sachs & Co. LLC, Morgan Stanley and J.P. Morgan are acting as joint lead book-running managers for the proposed offering, with Allen & Company LLC, UBS Investment Bank, and Credit Suisse acting as joint book-running managers. Baird, Stifel and Telsey Advisory Group are acting as co-managers for the proposed offering.

On was born in the Swiss Alps with one goal: to revolutionize the sensation of running by empowering all to run on clouds. Eleven years after market launch, On delivers industry-disrupting innovation in premium footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. Fueled by customer-recommendation, On's award-winning CloudTec® innovation, purposeful design and groundbreaking strides in sportswear's circular economy have attracted a fast-growing global fanbase — inspiring humans to explore, discover and dream on.

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