ANN ARBOR, Mich.--Truck Hero, Inc. (“Truck Hero” or the “Company”) announced today that it will postpone its planned initial public offering due to unfavorable market conditions. The Company will continue to evaluate the timing for the proposed offering as market conditions develop.
Bill Reminder, Truck Hero’s President and Chief Executive Officer stated, “Truck Hero has been experiencing strong organic growth and impressive performance. We have created significant value, and we are unwilling to sell shares at prices that do not reflect the value we have created. We remain a very healthy company with backing from a supportive financial investor, a strong growth strategy, and great traction in executing against that strategy. We are committed to continuing to execute our plan, and we do not believe this decision will impact our ability to meet our ongoing growth goals.”
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 laws of any such state or jurisdiction.
About Truck Hero, Inc.
Truck Hero, based in Ann Arbor, Michigan, is a designer, manufacturer and marketer of branded consumer accessories for pickup trucks.
This press release contains certain forward-looking statements, including statements with regard to Truck Hero’s proposed securities offering. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may”, “will”, “should”, “expects”, “plans”, “anticipates”, “could”, “intends”, “target”, “projects”, “contemplates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. The timing and other terms of a proposed securities offering are subject to numerous factors, many of which are beyond the control of Truck Hero, including, without limitation, market conditions and other factors. You should not place undue reliance upon forward-looking statements as predictions of future events. Truck Hero has based the forward-looking statements contained in this press release on its current expectations and projections about future events and trends that it believes may affect its business, financial condition, results of operations and prospects. Truck Hero cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Truck Hero undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.