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Jax Daily Record Thursday, May 13, 202104:46 PM EST

Fanatics sells $322.56 million in stock to group of 28 investors

The Jacksonville-based sports merchandise company offers no other details.
by: Mark Basch Contributing Writer

Fanatics Holdings Inc. sold $322.56 million in stock to a group of 28 investors, according to a May 13 Securities and Exchange Commission filing.

The filing said the Jacksonville-based sports merchandise company sold the stock April 29 but gave no other details.

The capital raise follows a sale of $350 million in preferred stock in August 2020, according to a previous SEC filing.

CNBC reported in March that Fanatics was planning to sell about $320 million in stock to current investors in the company.

The business news network said that sale would increase the company’s valuation to $12.8 billion.

Fanatics was founded as a retail store in the Orange Park Mall in 1995 by brothers Alan and Mitchell Trager.

The Tragers sold the company in 2011 and it now is part of a Philadelphia-based holding company called Kynetic. 

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