2023-06-29 02:51:51 ET
- For-profit thrift store operator Savers Value Village ( NYSE: SVV ) upsized its IPO to $401.2M from the earlier $300M filed last week.
- The firm priced its IPO of ~22.3M shares at $18/share, of which 18.75M shares are being offered by Savers ( SVV ) and 3.5M are being offered by funds managed by Ares Management ( ARES ).
- The Ares ( ARES ) selling stockholders granted the underwriters a 30-day option to buy up to an additional 3.3M shares at the IPO price.
- Savers' ( SVV ) shares are expected to begin trading on NYSE on June 29, under the ticker 'SVV'.
- The Company intends to use the net primary proceeds of the offering, together with cash on the balance sheet, to repay indebtedness. The Company will not receive any proceeds from the sale of shares of common stock by the Ares Selling Stockholders.
- The IPO is expected to close on July 3.
- Now read - IPO Update: Savers Value Village Aims For $300M IPO
For further details see:
Savers Value Village upsizes IPO to $401.2M