Heelys Inc

Heelys Inc., a novelty shoemaker that has equipped thousands of kids around the world with wheeled sneakers, filed Friday to raise as much as $115 million in an initial share sale. The Carrollton, Texas-based company's lead product features a removable wheel in the sole, allowing wearers to switch from walking or running to skating by shifting weight to their heels.

Heelys Inc., the company known for its sneakers on wheels for kids and teens, might soon be rolling over to Manhattan Beach shoe retailer Skechers USA Inc. In an unsolicited offer Wednesday, Skechers proposed to acquire Heelys for $143 million in cash. Skechers had made a lower bid to buy Dallas-based Heelys in May but was rebuffed. Launched in 2000, Heelys quickly became the new "it" item for kids.

Heelys Inc., the company known for its sneakers on wheels for kids and teens, might soon be rolling over to Manhattan Beach shoe retailer Skechers USA Inc. In an unsolicited offer Wednesday, Skechers proposed to acquire Heelys for $143 million in cash. Skechers had made a lower bid to buy Dallas-based Heelys in May but was rebuffed. Launched in 2000, Heelys quickly became the new "it" item for kids.

Those infernal Heelys. The trend started innocuously enough: A few isolated kids popped up in malls, zig-zagging around shoppers quick and nimble as fleas, in pint-sized tennis shoes with rollers hidden in the heels. They seemed almost cute at first -- budding figure skaters landing triple axels in store aisles. Heelys had all the earmarks of a passing fad -- poor-man roller skates that don't go particularly fast or far -- but kids found that the shoes gave them secret powers.

Heelys Inc., the novelty shoemaker that has equipped thousands of children around the world with wheeled sneakers, raised $134.9 million in an initial public offering Thursday, 20% more than it planned. The company and its shareholders sold 6.43 million shares for $21 each, more than the 6.25 million shares it expected to sell at $16 to $18 each, people familiar with the sale said. Heelys is expected to begin trading today under the ticker HLYS.

Trendy wheeled sneakers that let children zip down sidewalks and across playgrounds also could send them rolling into emergency rooms on a stretcher, say doctors who blame a rash of injuries on the international craze. It's called "heeling," named after Heelys, the most popular brand. They're sold in 70 countries and are so hot that their Carrollton, Texas-based maker, Heelys Inc., recently landed atop BusinessWeek's annual list of fastest-growing companies.

This could be the biggest week of the year for initial public stock offerings. Twenty-two companies are expected to sell shares, including Burger King's biggest U.S. franchisee, Carrols Restaurant Group Inc. The sales could help make this the hottest year for IPOs since 2000. So far, a total of $44.7 billion has been raised by 205 companies.

Those infernal Heelys. The trend started innocuously enough: A few isolated kids popped up in malls, zig-zagging around shoppers quick and nimble as fleas, in pint-sized tennis shoes with rollers hidden in the heels. They seemed almost cute at first -- budding figure skaters landing triple axels in store aisles. Heelys had all the earmarks of a passing fad -- poor-man roller skates that don't go particularly fast or far -- but kids found that the shoes gave them secret powers.

Heelys Inc.'s board rejected Skechers USA Inc.'s offer to buy the company for $142.8 million. The offering price of $5.25 a share "does not reflect the value of Heelys," the Carrollton, Texas, company said. Skechers, based in Manhattan Beach, made its unsolicited bid for the company Aug. 13.

The stock market's woes this year are turning into a blessing of sorts for corporate America. As share prices have fallen, U.S. and foreign companies have seized on the opportunity to gobble up rivals. The latest case in point: Manhattan Beach-based sneaker seller Skechers USA Inc. on Wednesday offered to buy Heelys Inc., a maker of children's shoes with wheels, for $143 million. Eighteen months ago, Heelys' stock market value topped $1 billion. The day before, drugstore chain CVS Caremark Corp.

Trendy wheeled sneakers that let children zip down sidewalks and across playgrounds also could send them rolling into emergency rooms on a stretcher, say doctors who blame a rash of injuries on the international craze. It's called "heeling," named after Heelys, the most popular brand. They're sold in 70 countries and are so hot that their Carrollton, Texas-based maker, Heelys Inc., recently landed atop BusinessWeek's annual list of fastest-growing companies.

This could be the biggest week of the year for initial public stock offerings. Twenty-two companies are expected to sell shares, including Burger King's biggest U.S. franchisee, Carrols Restaurant Group Inc. The sales could help make this the hottest year for IPOs since 2000. So far, a total of $44.7 billion has been raised by 205 companies.

Heelys Inc., the novelty shoemaker that has equipped thousands of children around the world with wheeled sneakers, raised $134.9 million in an initial public offering Thursday, 20% more than it planned. The company and its shareholders sold 6.43 million shares for $21 each, more than the 6.25 million shares it expected to sell at $16 to $18 each, people familiar with the sale said. Heelys is expected to begin trading today under the ticker HLYS.

Heelys Inc., a novelty shoemaker that has equipped thousands of kids around the world with wheeled sneakers, filed Friday to raise as much as $115 million in an initial share sale. The Carrollton, Texas-based company's lead product features a removable wheel in the sole, allowing wearers to switch from walking or running to skating by shifting weight to their heels.