Academy Sports + Outdoors Announces Major Senior Secured Notes Offering for Expansion Initiatives

Academy Sports + Outdoors Initiates Offering of Senior Secured Notes

On May 4, 2026, Academy Sports and Outdoors, Inc.—a prominent name in the U.S. retail sporting goods sector—announced a significant financial maneuver through its wholly-owned subsidiary, Academy, Ltd. The issuer has set forth plans to facilitate the offering of senior secured notes totaling $500 million, due in 2031. This move is part of a broader strategy to enhance financial strength and facilitate necessary corporate actions following prevailing market conditions.

Purpose of the Offering

The proceeds garnered from this offering are earmarked for critical financial activities. They aim primarily to undertake the redemption of existing senior secured notes that are maturing in 2027, repay outstanding amounts under the current term loan facility, settle related fees, and support general corporate needs. This upcoming redemption action highlights Academy's commitment to maintaining strong fiscal discipline and liquidity.

In specific terms, Academy has issued a notice for the conditional redemption of its 2027 Notes. The redemption price has been established at 100% of the principal amount. However, this redemption will proceed based on the successful completion of the notes offering, with a redemption date slated for May 14, 2026. If, for any reason, the offering conditions are not met or waived, the redemption will be nullified, and the 2027 Notes will continue to circulate in the market.

Financial Strategy and Security

The senior secured notes will be guaranteed on a top-priority basis by certain subsidiaries that hold credit facilities linked to the issuer. In terms of securities, these notes will leverage a first-priority lien on a substantial portion of the issuer's and guarantors' personal property, alongside a second-priority lien attached to the revolving credit facility, ensuring robust security for potential investors.

It’s important to note that these notes and accompanying guarantees will not be registered under the Securities Act of 1933 and may not be circulated without adherence to applicable registration exemption laws. The offering is thus directed towards qualified institutional buyers and non-U.S. buyers under Regulation S.

The announcement serves as a preliminary step in a strategic series of financial maneuvers aimed at solidifying Academy Sports + Outdoors' position in the retail market.

About Academy Sports + Outdoors

Founded in 1938 in Texas, Academy Sports + Outdoors has grown into a major player in the sporting goods retail space, boasting over 300 stores in 21 states. Known for its catchy motto, "Fun for All," Academy has cultivated a diverse product lineup that includes key categories like outdoor gear, apparel, sports equipment, and footwear. This variety, combined with its private label offerings and national brand partnerships, resonates with a wide customer base, ensuring continued relevance in a competitive market.

For more information regarding Academy and its latest endeavors, please visit www.academy.com.

Closing Remarks

As Academy Sports + Outdoors positions itself for future growth by engaging in these financial activities, it underscores the company's ongoing commitment to strategic financial planning and market responsiveness. This significant offering not only reflects the company's operational priorities but also illustrates its long-term vision for expansion and resilience in the dynamic retail landscape.