On August 1, 2011, the Company completed an initial public offering in which 22,250,000 shares of common stock were sold at an initial public offering price of $19.00 per share. Immediately prior to the offering, each share of the Company's Class L common stock converted into 2.4338 shares of common stock.
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A backpack â also called bookbag, kitbag, knapsack, rucksack, pack, sackpack or backsack â is, in its simplest form, a cloth sack carried on one's back and secured with two straps that go over the shoulders, but there can be variations to this basic design.