Bullish indicating open at $55-$60, IPO prices at $37
Somnigroup International Inc., previously known as Tempur Sealy (NYSE:SGI) International Inc., has officially changed its name and will now trade on the New York Stock Exchange under the new ticker symbol "SGI". The company, which generates annual revenue of $3.87 billion and maintains a healthy dividend yield of 8.47%, announced the change became effective today, February 18, 2025, following the filing of its Third Certificate of Amendment to the Amended and Restated Certificate of Incorporation with the Delaware Division of Corporations earlier on February 5, 2025. According to InvestingPro analysis, the company currently shows strong financial health with multiple positive indicators.
In conjunction with the name change, the company’s Board of Directors also approved the Eighth Amended and Restated By-Laws, reflecting the new company name. No other changes to the bylaws were made. The name change and the adoption of the new ticker symbol are part of a previously announced rebranding strategy aimed at refreshing the company’s corporate image. The company has demonstrated strong shareholder commitment, having raised its dividend for four consecutive years.
The transition to the new name and ticker symbol is a significant step for the Lexington, Kentucky-based manufacturer. The company’s common stock began trading under the new ticker symbol "SGI" as of today, marking a new chapter in its corporate history.
This move comes after a series of name changes for the company, which was formerly known as Tempur Pedic International Inc and TWI Holdings Inc, indicating an evolution in the company’s branding and corporate strategy. The company’s executive leadership, including Executive Vice President & Chief Financial Officer Bhaskar Rao, has signed off on the legal formalities required by the Securities Exchange Act of 1934 to finalize the changes.
Investors and stakeholders are advised to note the new corporate identity as it represents the company on the New York Stock Exchange. The details of the amendments, including the Third Certificate of Amendment and the Eighth Amended and Restated By-Laws, are available in the company’s latest 8-K filing with the Securities and Exchange Commission. This filing provides the official source of information regarding the company’s rebranding and structural changes.
In other recent news, Somnigroup International Inc., previously known as Tempur Sealy, has officially changed its corporate name. The company recently acquired Mattress Firm Group Inc. for a total price of approximately $5 billion, funded through a mix of cash and stock. Following the acquisition, S&P Global confirmed Tempur Sealy’s ’BB’ ratings and assigned a ’BBB-’ issue-level rating to the company’s $1.6 billion senior secured term loan B.
In addition to these developments, Scott Thompson, Chairman and CEO of Somnigroup, has been appointed interim CEO of Mattress Firm following John Eck’s departure. The company is currently in the process of searching for a permanent CEO for Mattress Firm. Thompson expressed confidence in the company’s future, emphasizing the commitment to delivering innovative sleep solutions worldwide.
The company’s portfolio includes well-known brands such as Tempur-Pedic®, Sealy®, Stearns & Foster®, and Sleepy’s. The diversified sales channels across its global platform aim to meet consumers’ shopping preferences. These are recent developments for Somnigroup, providing investors with a snapshot of the company’s recent activities.
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