a.k.a. Brands Holding Corp. Announces Pricing of Initial Public Offering
22 Septembre 2021 - 03:10AM
Business Wire
a.k.a. Brands Holding Corp. (“a.k.a. Brands” or the “Company”)
today announced the pricing of its initial public offering of its
common stock. The Company is offering 10,000,000 shares of its
common stock at a price to the public of $11.00 per share for gross
proceeds of $110,000,000. a.k.a. Brands shares are expected to
begin trading on the New York Stock Exchange (“NYSE”) on September
22, 2021, under the symbol “AKA.” The initial public offering is
expected to close on September 24, 2021, subject to the
satisfaction of customary closing conditions.
In addition, the underwriters will have a 30-day option to
purchase an additional 1,500,000 shares of common stock from the
Company at the initial public offering price, less underwriting
discounts and commissions.
a.k.a. Brands will receive net proceeds of approximately $96.4
million after deducting underwriting discounts and commissions and
estimated expenses and intends to use the net proceeds received
from this offering, together with borrowings under the Company’s
new senior secured credit facility, to (i) repay in full all
outstanding amounts under the Company’s existing senior secured
credit facility and the Company’s existing subordinated notes and
(ii) repurchase minority interests in Petal & Pup. The Company
intends to use any remaining net proceeds for working capital and
general corporate purposes, including possible future
acquisitions.
BofA Securities, Credit Suisse and Jefferies are acting as joint
lead book-running managers for the offering. Wells Fargo
Securities, KeyBanc Capital Markets, Cowen, Piper Sandler and
Truist Securities are also acting as book-running managers for the
offering. Telsey Advisory Group and Loop Capital Markets are acting
as co-managers for the offering.
The offering will be made only by means of a prospectus. Copies
of the final prospectus relating to this offering, when available,
may be obtained from:
- BofA Securities at BofA Securities, Attention: Prospectus
Department, NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte NC 28255-0001, by telephone at (800)-294-1322 or by email
at dg.prospectus_requests@bofa.com
- Credit Suisse at Credit Suisse Securities (USA) LLC, Attention:
Prospectus Department, 6933 Louis Stephens Drive, Morrisville,
North Carolina 27560, by telephone at (800)-221-1037 or by email at
usa.prospectus@credit-suisse.com
- Jefferies at Jefferies LLC, Attention: Equity Syndicate
Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY
10022, by telephone at (877)-821-7388 or by email at
prospectus_department@jefferies.com.
A registration statement on Form S-1 relating to these
securities has been filed with the U.S. Securities and Exchange
Commission and became effective on September 21, 2021. Copies of
the registration statement can be accessed through the Securities
and Exchange Commission’s website at www.sec.gov. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy these securities, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. Any offers, solicitations or offers to buy,
or any sales of securities will be made in accordance with the
registration requirements of the Securities Act of 1933, as
amended.
About a.k.a. Brands
Established in 2018, a.k.a. Brands is a global platform of
diversified, direct-to-consumer, digitally native fashion brands.
Built for the next generation of consumers, each brand in the
a.k.a. portfolio targets a distinct audience, introduces inspiring
content, curates high-quality merchandise and creates authentic
relationships with their customers. a.k.a. Brands leverages a
flexible, asset-light operating model to help each brand accelerate
its growth, scale in new markets and enhance their profitability.
Current brands in the a.k.a. Brands portfolio include Princess
Polly, Culture Kings, Petal & Pup and Rebdolls.
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version on businesswire.com: https://www.businesswire.com/news/home/20210921006167/en/
Emily Goldberg Schwartz media@aka-brands.com