J. Crew Plans IPO

New York City, J. Crew Group today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The shares will be offered by a group of underwriters led by Goldman, Sachs & Co. and Bear, Stearns & Co. Inc.

The company expects to use the net proceeds of the offering, along with the proceeds of a sale of $73.5 million of its common stock to Texas Pacific Group, its majority shareholder, and borrowings under a new term loan that the company expects to enter into, to redeem its outstanding cumulative preferred stock and some of its outstanding debt and to pay related costs.

Recommended stories

Login or Register to post a comment.