That is when the fast-growing Baltimore sports apparel company will finally launch its initial public offering, selling about 12 million shares on the Nasdaq Stock Market for an estimated $7.50 to $9.50 a share.
A calendar on the Nasdaq Web site lists Nov. 17 as Under Armour's expected IPO date; its stock will trade on the exchange under a "UARM" ticker symbol. Goldman, Sachs & Co. is leading the offering.
Wall Street analysts are predicting a favorable reception for the company, best known for its moisture-wicking performance gear and "Protect This House" advertising campaign.
Under Armour (NASDAQ: UARM) will pay off debt, expand into new retail stores and develop new products with the more than $72 million it plans to raise in its IPO. Football cleats are among the new products the company plans to launch, its first foray into the footwear market and a direct challenge to dominant sports apparel giant Nike.
Under Armour will offer 9.5 million shares of Class A stock and 2.5 million shares from current stockholders.
Along with its trademark performance apparel clothing, Under Armour is eyeing apparel for what it calls "off-field outdoor sports," including hunting, fishing, running, mountain sports, skiing and golf.
"We believe that our products will appeal to athletes and consumers with active lifestyles around the globe," the company said in a recent amendment to its S-1 filed with the Securities and Exchange Commission.
Under Armour products are carried in 8,000 retail stores, up from 500 stores in 2000. Sales for the 12 months ended Sept. 30 topped $263 million, according to its filing.
Under Armour CEO Kevin Plank will own 15.2 million shares of Class B stock, which carry 10 votes per share. With his Class B holdings and the 10 votes each share of that stock carries, Plank will control 83 percent of the voting power of the company's common stock, according to the recent filing.
Financial experts say such dual-class structures hold down a stock's value but enable the founders to lock in a controlling interest in the company even after it goes public. Investors give up some voting power but get a stock that's cheaper to buy.
Under the terms of the company's offering, the Class B stock could only be held by Plank, his family and entities controlled by them, such as trusts for Plank's children.