logo
Plus   Neg
Share
Email

Tilly's Prices IPO Of 8 Mln Of Class A Shares At $15.50/Shr - Quick Facts

Tilly's Inc. (TLYS) said it has priced an initial public offering of 8.0 million Class A common shares at $15.50 per share. Tilly's is offering 7.60 million shares and selling stockholders are offering 400,000 shares. The shares would be listed on the New York Stock Exchange under the symbol "TLYS" and would begin trading today.

The underwriters have a 30-day option to buy up to an additional 1,200,000 shares from the selling stockholders to cover overallotments, if any. Tilly's would not receive any proceeds from the sale of shares by the selling stockholders.

Tilly's anticipates to receive proceeds, net of the underwriting discounts and offering expenses, of about $107.6 million. Tilly's plans to use $84.0 million to pay in full the principal amount of notes held by existing stockholders representing the final undistributed "S" corporation earnings of World of Jeans & Tops, a wholly-owned unit, while the remaining proceeds would be used for working capital and general corporate purposes.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
In a move likely to further inflame global trade tensions, President Donald Trump has threatened to impose a 20 percent tariff on all cars imported to the U.S. from the European Union. Trump claimed he would impose the new tariffs unless the EU removes tariffs and trade barriers placed on the U.S. The Federal Reserve has determined that the largest U.S. banks are strongly capitalized and would be able to lend to banks as well as households during a severe global economic recession. This is the fourth straight year that all banks have met the Federal Reserve's standards. The first round of results of the supervisory stress tests were released by the central bank on Thursday. The "safety" driver behind the wheel of a self-driving Uber was streaming a television show on her smartphone up until about the time of a fatal crash in March, according to a report from the Tempe Police Department. Uber's self-driving Volvo SUV, which was traveling at under 44 miles per hour, had struck and killed a pedestrian in Arizona on March 18.
Follow RTT