Savers Value Village launches $15 million secondary share offering
Retailer Savers Value Village files for a secondary offering of 15 million shares, with proceeds to be received by selling shareholders.
Savers Value Village Inc. announced a secondary offering of 15 million shares of its common stock.
The offering will be conducted through a registered public offering, with all proceeds going to the selling shareholders. Savers Value Village will not receive any proceeds from the sale of the shares.
The company said the offering is being made by certain existing shareholders, including affiliates of Leonard Green & Partners, L.P., which owns approximately 52% of the company's outstanding shares. The underwriters have been granted a 30-day option to purchase up to an additional 2.25 million shares to cover over-allotments, if any.
Savers Value Village operates a network of thrift stores in the United States and Canada, specializing in the resale of secondhand clothing, accessories, and household goods. The company went public in July 2021 at $21 per share and has since traded under the ticker SVV.
The offering is subject to market conditions and regulatory approvals. No pricing details were provided in the announcement.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
Plus de Priya Anand →