Owner of N.H. ski areas plans IPO



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St. Louis-based Peak Resorts Inc., owner of the Attitash, Crotched Mountain and Wildcat Mountain ski areas in New Hampshire, is considering taking the company public.The company -- which owns nine other ski resorts in the United states -- filed last month for a proposed initial public offering with the U.S. Securities and Exchange Commission.According to the filing, the number of shares to be offered and the price range have not yet been determined, but Peak would trade under the proposed symbol "PEAK" on the Nasdaq Global Market.The offering would be underwritten by Rodman & Renshaw LLC.In fiscal 2010, Peak saw revenue of $89.8 million, with a net income of $2.8 million.For the period from May 1, 2010, through Jan. 31, 2011, the company was operating with a loss of $4.76 million, as compared to a loss of $9.4 million in the same time period in 2009-2010.The company acquired Crotched Mountain in Bennington in 2003 and Attitash in Bartlett in 2007. In October, Peak acquired Wildcat Mountain, located in Pinkham Notch.Peak currently owns and operates 12 ski areas through the Midwest, Northeast and Southeast United States, including Mount Snow in Vermont.According to SEC filings, Peak Resorts saw a combined total of approximately 1.7 million skier visits in the 2009/2010 season, and generated approximately $90 million in revenue during fiscal 2010. -- CINDY KIBBE/NEW HAMPSHIRE BUSINESS REVIEW

 

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