logo
Share SHARE
FONT-SIZE Plus   Neg

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 RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Computer and printer maker Hewlett-Packard Co. said Thursday after the markets closed that its second quarter profit fell 21% from last year, hurt by lower revenue and costs related to the planned separation of the company. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Accounting software maker Intuit reported a plunge in third-quarter profit, hurt by impairment charges, even as results topped Wall Street estimates, driven by growth in small business segment amid a strong tax season. Struggling teen-apparel retailer Aeropostale Inc. (ARO), Thursday said its first-quarter loss narrowed from a year ago, driven largely by stronger margins even as revenues continued to plunge dropped. Nevertheless, the company lost almost one-fifth of its market value in after-hours trade, with the...
comments powered by Disqus
RELATED NEWS
Trade TLYS now with 
Follow RTT