Ollie's Bargain Outlet Holdings (OLLI) Prices 8.93M Common Stock IPO at $16/Share, Above Expected Range
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Ollie's Bargain Outlet Holdings, Inc. (Nasdaq: OLLI) announced the pricing of its initial public offering of 8,925,000 shares of common stock at a price of $16.00 per share. The Company's shares are expected to begin trading on the NASDAQ Global Market on July 16, 2015 under the ticker symbol "OLLI." In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1,338,750 shares at the initial public offering price, less underwriting discounts and commissions.
*** NOTE: The company was previously expecting a pricing range of $13 - $15 per share.
The Company intends to use the net proceeds of this offering to repay a portion of its outstanding borrowings under its senior secured credit facilities.
J.P. Morgan, Jefferies and BofA Merrill Lynch are serving as joint lead book-running managers and as representatives of the underwriters for the proposed offering. Credit Suisse, Piper Jaffray, KeyBanc Capital Markets and RBC Capital Markets are acting as joint book-running managers for the proposed offering.
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