Skullcandy Goes Public on the NASDAQ

Mercato Partners second IPO in two months with offering of Skullcandy

SALT LAKE CITY, UT – July 20, 2011 – Global lifestyle brand Skullcandy raised $188.8 million through a public offering on the NASDAQ on July 20, 2011, valuing the company over $500M. The company began trading at $20 per share, above the target range of $17-19. Skullcandy was the first of seven investments from Mercato's inaugural growth equity fund and the second IPO from the firm's portfolio in the last two months. Managing Director Greg Warnock and Principal Aaron DeRose joined the management team in New York City for the offering and continues to support the company on the board of directors.