Funko, Inc. priced its initial public offering on November 1, 2017, and shares began trading on the NASDAQ Global Select Market on November 2, 2017 under the ticker symbol FNKO.
According to Funko’s investor relations press release dated November 1, 2017, the company offered 10,416,666 shares of Class A common stock at $12.00 per share. The release stated that trading was expected to begin November 2, 2017, with the offering closing on November 6, 2017, subject to customary conditions.
CNBC reported on November 2, 2017 that Funko executives rang the NASDAQ opening bell to mark the listing. The same day, market data showed the stock opened below the offer price, reflecting investor caution about a hit-driven collectibles business. SEC filings later confirmed net proceeds of approximately $116.4 million from the IPO.
Why collectors should know this
Funko’s transition from a private company to a publicly traded one increased scrutiny of its release calendar, licensing costs, and inventory management. Many collectors noticed faster product cycles and broader retail distribution in the years that followed the IPO.
Funko has since returned to private ownership (taken private in 2022), but the 2017 IPO remains a documented milestone in the company’s corporate history.
Sources
- Funko, Inc., “Funko, Inc. Announces Pricing of Initial Public Offering,” press release, November 1, 2017. investor.funko.com
- CNBC, “Funko executives celebrate initial public offering by ringing the opening bell at the Nasdaq MarketSite,” published November 2, 2017. cnbc.com
- U.S. Securities and Exchange Commission, Funko, Inc. S-1/A filing, IPO closing noted November 6, 2017.