Green Bay Packers offering: How to buy NFL team’s dummy stock?

Be the First to Comment Read

Green Bay Packers offering: How to buy NFL team’s dummy stock?

 Green Bay Packers offering: How to buy NFL team’s dummy stock?
Image source: EFKS, Shutterstock

Highlights

  • Green Bay Packers announced preliminary details for the stock offerings on Nov 15
  • The offering price will be US$300 per share
  • Packers will offer 300,000 shares for the interested buyers

The American football team the Green Bay Packers announced the preliminary details for its stock offering on November 15, marking its offering for the sixth time in history. The stock offering will begin on Tuesday, November 16, at 9 am ET.

Detailed information like the formal document of the offering will be available when it begins on Tuesday. Interested fans and investors may have access to the full information on the company's website.

Packers President and CEO Mark Murphy appreciated fans for showing their interest in the company's sixth stock offering. He added that he is not able to fully discuss details while sharing some initial information for fans' consideration.

Also Read: Macy's Inc Q3 earnings: What to look for

Details of the offering

According to the information that is currently released, the offering price will be US$300 per share. In addition, there would be a handling fee similar to the fee of the last offering.

Initially, the offering would be available only for the people in the US, as well as Guam, US Virgin Islands, and Puerto Rico. However, in certain states, it is subject to complete regulatory processes.

Also Read: Q3 Outlook: Walmart (WMT), Target (TGT) to report modest sales growth

Interested buyers may purchase the shares online with their credit or debit cards, electronic bank transactions, or with a personal check or cashier's check through email. Also, only individuals, and that includes spouses as joint tenants, may purchase the shares and if any individual wants, they can also buy the shares to gift to other individuals.

An individual may buy a maximum of 200 shares, including the number of shares the person had purchased in the previous offerings in 1997 to 1998 and 2011 to 2012. Meanwhile, Packers will offer a total of 300,000 shares and the offering will continue till February 25, 2022, subject to extension.

Also Read: From Alibaba, Lucid to NetEase: Top stocks to watch out this week

Packers announced to commence its share offerings from Nov 16, at 9 am ET

Also Read: StatusPro IPO: How to buy the stock?

‘Ownership’ stock of no value

Noteworthy, investment in the Packers' stock does not constitute spending in its "stocks", meaning the stock will have no value. Precisely, there would be no economic benefits like making a profit, receiving dividends, or tax deductions, but it would be counted as "ownership" shares.

In addition, Packers will hold no obligation in repaying the purchase amount to the buyers that invest in the stocks and all the stock offerings will be made only through an offering document.

The organization believes that the offerees and the buyers of the stocks will get no protection of security laws regarding any offering or selling of the shares. Meanwhile, its bylaws and NFL rules strictly restrict transfers of its stocks.

Also Read: Home Depot (HD) Q3 earnings: EPS growth, sales, stock price outlook

Bottom line:

The early stock offerings were made out of necessity in 1923, 1935, and 1950, for keeping the team financially stable. Additional stock sales were done in 1997 and 2011, for raising funds to expand the stadium and projects. The offering that is expected to commence on November 16 will be the first in 10 years.

Disclaimer

Speak your Mind

Featured Articles

Ad
kalkine logo

GET A FREE STOCK REPORT

Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK