Ollie's Bargain Outlet (OLLI) IPO Opens 42% Higher

Ollie's Bargain Outlet (NASDAQ: OLLI) opened for trading at $22.68 after pricing of its initial public offering of 8,925,000 shares of common stock at a price of $16.00 per share.

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.

Founded in 1982, Ollie’s Bargain Outlet is based on the idea that “everyone in America loves a bargain.” Ollie’s is a highly differentiated and fast-growing, extreme value retailer of brand name merchandise at drastically reduced prices. Known for their assortment of “Good Stuff Cheap,” Ollie’s offers customers a broad selection of brand name products, including housewares, food, books and stationery, bed and bath, floor coverings, toys and hardware. Since opening their first store in Mechanicsburg, PA, they have expanded throughout the Eastern half of the United States with 186 stores in 16 states.

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