April 23 Specialty apparel retailer Tilly's Inc
said that it expects its initial public offering of 8 million
shares to be priced between $11.50 and $13.50 apiece.
At the mid-point of the range, Tilly's expects to receive
about $86.4 million in net proceeds after underwriting discount
The company will sell 7.6 million shares, while selling
stockholders will sell 400,000 shares.
Tilly's expects to use the proceeds to pay current
shareholders of World of Jeans & Tops, through which it sells
its merchandise. World of Jeans & Tops will become a wholly
owned unit of Tilly's before the offering closes, the company
said in a regulatory filing.
The Irvine, California-based company, which operates 145
stores across the United States, has applied to list on the New
York Stock Exchange under the symbol "TLYS."
The company had filed with the U.S. Securities and Exchange
Commission in July 2011 to raise up to $100 million through an
Goldman Sachs & Co, BofA Merrill Lynch, Piper Jaffray,
William Blair & Co and Stifel Nicolaus Weisel are underwriting