SAM Magazine—Wildwood, Mo., Dec. 1, 2014—Peak Resorts, Inc., operator of 13 ski resorts located primarily in the Northeast and Midwest, 12 of which are company-owned, has closed its initial public offering of 10,000,000 shares of common stock at a public price of $9 per share. At today’s close the shares were trading at $8.59. All of the shares were offered by the company.

According to a press release, the underwriters have also been granted a 45-day over-allotment option to purchase up to an additional 1,500,000 shares from the company on the same terms and conditions. The shares began trading on the NASDAQ on Nov. 21 under the ticker symbol SKIS.

The offering raised net proceeds of approximately $82 million after deducting underwriting discounts and commissions and estimated offering expenses. The release states that the company intends to use the funds primarily to reduce outstanding debt, with the remainder available for working capital and general corporate purposes, including future acquisitions.

Four of Peaks’ areas, including Mount Snow, Vt., Wildcat and Crotched Mountain, N.H., and Big Boulder, Pa., are open for the 2014-15 season.