Duluth Holdings Inc. Announces Launch of Initial Public Offering

BELLEVILLE, WI, Nov. 9, 2015 (GLOBE NEWSWIRE) -- Duluth Holdings Inc. (dba, Duluth Trading Company) ("Duluth Trading"), a lifestyle brand of men's and women's casual wear, workwear and accessories, today announced the launch of its initial public offering of 6,666,667 shares of its Class B common stock. Duluth Trading has granted the underwriters a 30-day option to purchase up to an additional 1,000,000 shares of its Class B common stock. The initial public offering price is currently expected to be between $14.00 and $16.00 per share of Class B common stock. Duluth Trading has applied to list its Class B common stock on the NASDAQ Global Select Market under the ticker symbol "DLTH."

Duluth Trading intends to use the net proceeds that it receives from this offering to repay borrowings under a short-term note used to fund part of its final "S" corporation distribution in connection with its conversion to a "C" corporation, retail store expansion and for general corporate purposes.

William Blair & Company, L.L.C., Robert W. Baird & Co. Incorporated, Raymond James & Associates, Inc. and BMO Capital Markets Corp. are acting as joint book-running managers of the proposed offering.

The offering of these securities will be made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained from William Blair & Company, L.L.C., Attention: Prospectus Department, 222 West Adams Street, Chicago, IL 60606, or by telephone at (800) 621-0687 or email at [email protected]; from Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 E. Wisconsin Avenue, Milwaukee, WI 53202, or by telephone at (800) 792-2473 or email at [email protected]; from Raymond James & Associates, Inc., Attention: Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, or by telephone at (800) 248-8863 or email at [email protected]; or from BMO Capital Markets Corp., Attention: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, or by telephone at (800) 414-3627 or email at [email protected].

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-looking Statements

This press release includes "forward-looking statements" within the meaning of U.S. federal securities laws. All statements, other than statements of historical facts included in this press release, including statements concerning Duluth Trading's plans, objectives, goals, beliefs, business strategies, future events, business conditions, its results of operations, financial position and its business outlook, business trends and certain other information herein are forward-looking statements. You can identify forward-looking statements by the use of words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "could," "believe," "estimate," "project," "target," "predict," "intend," "future," "budget," "goals," "potential," "continue," "design," "objective," "would" and other similar expressions. The forward-looking statements are not historical facts and are based upon Duluth Trading's current expectations, beliefs, estimates, and projections, and various assumptions, many of which, by their nature, are inherently uncertain and beyond Duluth Trading's control. Duluth Trading's expectations, beliefs and projections are expressed in good faith, and Duluth Trading believes there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs, estimates and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements, including, among others, the risks, uncertainties and factors set forth under "Risk Factors" in the registration statement on Form S-1. Forward-looking statements speak only as of the date the statements are made. Duluth Trading assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances or other changes affecting forward-looking information except to the extent required by applicable securities laws.

CONTACT: Media Contacts:
         Julie MacMedan (310) 622-8242
         Paige Hart (310) 622-8244
         Financial Profiles, Inc.
         [email protected]

Source: Duluth Trading Company

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Fisker (FSR) files form 10-K, sees more job cuts, reiterates going concern doubts
• Gaucho Group Holdings Inc. (VINO) Receives Nasdaq Non-compliance Notice
• Cyngn Inc (CYN) Announces Pricing of $5.0 Million Firm Commitment Public Offering of Common Stock