initial public offerings (IPOs) trading on American exchanges

Saturday, December 7, 2013

DTLR Holding Inc. has canceled the company’s IPO

Hanover, MD-based DTLR Holding Inc. has canceled the company’s $75 million initial public offering on Friday, citing an unspecified “business development.”
DTLR has 97 stores, including this location in Baltimore's Gallery.

The owner of footware and apparel stores, formerly known as Downtown Locker Room,had filed documents with the Securities and Exchange Commission on Nov. 1, saying it had planned to go public. The company had not released a price for its stock, only saying that it would use money raised to redeem preferred shares, repay $51.1 million under a term loan facility and use the money for general corporate purposes.
DTLR has 97 stores and had sales of $181.4 million in the fiscal year ending in February. Its profit was $5.1 million.
Baird and Piper Jaffrey had been hired as lead underwriters for the stock offering.
DTLR’s filing came as the market for new stock offerings heated up. There have been 222 IPO filings so far in 2013, up from 140 in all of 2012, according to Renaissance Capital.

No comments:

Post a Comment