Vuori Share Sale Values Athleisure Startup at $5.5 Billion (1)

Activewear maker Vuori will allow some early investors and employees to sell shares in a tender offer that values the company at about $5.5 billion, according to people familiar with the matter.

The tender, also known as a secondary share sale, is about $825 million, said some of the people, all of whom asked to not to be identified discussing private information.

The investors leading the tender are General Atlantic and growth equity firm Stripes, the people said.

Representatives for Vuori and Stripes didn’t immediately respond to requests for comment. General Atlantic declined to comment. The tender offer hasn’t closed ...