GREEN BAY – The Green Bay Packers have sold $36.7 million in shares in the first day and a-half of the team's sixth stock sale.
Packers fans scooped up 110,000 shares of the NFL's only publicly-owned team between Tuesday morning and Wednesday evening. About 100,000 purchases were made.
Before the sale, the Packers had 361,300 shareholders who collectively owned 5,009,400 shares.
The Packers are offering 300,000 shares in the team at $300 a share plus a $35 handling fee until Feb. 25, or until they run out of shares. During the previous sale, in 2011, the team offered 250,000 shares at $250 each and added another 30,000 after about three weeks. It also extended the sales period. In the end, the Packers sold 269,000 shares that year and raised $67.4 million.
The team sold 33,000 shares in the first three hours of the sale on Tuesday and 83,000 by Tuesday night. Sales slowed on Wednesday, with another 27,000 shares bought.
If all shares are sold, the team will raise $90 million, which team President and CEO Mark Murphy said will go toward $250 million in Lambeau Field projects, including concourse renovation and new digital video scoreboards.
The sale is approved in all 50 states, Washington, D.C., and the American territories of Guam, Puerto Rico and the U.S. Virgin Islands. Marissa Meli, Packers associate general counsel, said the team sought approval in Canada as well and is awaiting a decision. The team was eventually able to sell in Canada during the 2011 sale.
Murphy said he received a lot of questions about international sales. "We are pretty optimistic we'll be able to sell shares in Canada. ... It's probably not likely we'll get approval anywhere else."
All pertinent information about the sale is available at packersstock.com. Credit and debit cards and electronic bank transfers can be used for online purchases. For those without internet access, a toll-free number — 833-696-7225 — is available to request documents by mail for transactions to then be completed by mail.
This is the sixth stock sale in the Packers' 102-year history.
This article originally appeared on Green Bay Press-Gazette: Green Bay Packers stock sale tops $36 million, 110,000 share sold