, the special-sweatshirt maker whose shares have almost tripled since its market debut last year, registered a public offering Wednesday in which private owners will sell 6.8 million shares.
Under Armour said the filing is part of an agreement with Rosewood Capital, its main venture backer, and other shareholders. The company will get none of the secondary's proceeds, which would total about $255 million at the current price. The deal includes a 1-million-share overallotment option.
News of the sale comes two weeks after a tripling in Under Armour's first-quarter earnings sent its shares up 13%, helping reverse the market impact of soggy guidance from earlier in the year. Under Armour closed at $37.51 Wednesday night, down about a dollar on the year but up 45% from a trough touched in early March.
Rosewood Capital, a San Francisco-based venture capital company with about $600 million in assets, received $12 million in Under Armour's November IPO.