October 23, 2012 / 10:45 AM / 5 years ago

Restoration Hardware sets IPO price range

2 Min Read

Oct 23 (Reuters) - Luxury retailer Restoration Hardware Holdings Inc said it expects to sell about 5.2 million shares at between $22 and $24 each in its initial public offering.

At the midpoint of the range, the offering will raise about $120 million.

The high-end furniture maker and retailer will sell 4.9 million shares in the offering, while selling stockholders will sell the rest.

Founded in 1980, Restoration Hardware sells furniture, bath linen, lighting fixtures and other items for homes at its stores, online and through catalogs.

Private equity firms Catterton Partners and Tower Three Partners LLC, along with Restoration Hardware Chief Executive Gary Friedman, bought a controlling equity stake in Restoration Hardware in 2008 and took it private.

BofA Merrill Lynch and Goldman Sachs are the lead underwriters to the offering, the company said in a filing with the U.S. Securities and Exchange Commission.

The company said it expects to list its shares on the New York Stock Exchange under the symbol 'RH'.

Restoration Hardware had filed for an offering of $150 million last September, though that initial figure is generally used to calculate SEC registration fees.

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