UPDATE: JOANN Inc. (JOAN) Prices 10.937M Share IPO at $12/Sh

(Updated - March 12, 2021 5:52 AM EST)

JOANN Inc. (NASDAQ: JOAN), the nation’s category leader in sewing and fabrics and one of the fastest growing players in the arts and crafts industry, today announced the pricing of its initial public offering of 10,937,500 shares of its common stock at an initial public offering price of $12 per share. The offering consists of 5,468,750 shares of common stock being sold by JOANN and 5,468,750 shares of common stock being sold by selling stockholders, which includes entities affiliated with Leonard Green & Partners and other non-management stockholders. In addition, JOANN granted the underwriters a 30-day option to purchase up to 1,640,625 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments, if any. The shares of common stock are expected to begin trading on the Nasdaq Global Market on March 12, 2021 under the ticker symbol “JOAN”. The offering is expected to close on March 16, 2021, subject to customary closing conditions.

BofA Securities and Credit Suisse are serving as joint lead book-running managers for the offering. Guggenheim Securities, Barclays, Wells Fargo Securities, Piper Sandler and William Blair are acting as additional bookrunners for the offering. Houlihan Lokey, Telsey Advisory Group, Loop Capital Markets and Ramirez & Co., Inc. are acting as co-managers for the offering.

A registration statement relating to the shares being sold in this offering was declared effective by the U.S. Securities and Exchange Commission on March 11, 2021. The offering is being made only by means of a prospectus.

---

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

---

You May Also Be Interested In

• Rubrik IPO: 5 key things to know
• Centuri (CTRI) Opens At $23.75, IPO At $21 (earlier)
• Shake Shack (SHAK) Announces Resignation of Jonathan Sokoloff from Board, Cuts Board Size to 10 from 11