Companies and Brands

Five Below Debuts in Strong IPO Pricing

Five Below, Inc. (NASDAQ: FIVE) has priced its initial public offering of 9,615,384 shares of common stock. The deal is a premium price at $17.00, well above the initial range signaled by the company. This is a teen and youth retailer with merchandise at $5.00 and under. Think of it as a pseudo-dollar store theme for hip teens and kids. Five Below is offering 4,807,692 shares of common stock, and selling shareholders are offering 4,807,692 shares of common stock.

Book-runners in the offering are Goldman Sachs, Barclays and Jefferies. Co-managers are listed as Credit Suisse, Deutsche Bank Securities, UBS Investment Bank, and Wells Fargo Securities. The underwriters also have an option to purchase up to an additional 1,442,308 shares from certain selling shareholders, and the company will not receive any proceeds from the sale of shares by the selling shareholders. Five Below estimates that it will receive net proceeds from the offering of approximately $72 million after fees and commissions.

Five Below intends to use the net proceeds from this offering to repay at least $50.0 million in outstanding debt, and it plans to use the remaining proceeds for general corporate purposes.

JON C. OGG

Are You Ahead, or Behind on Retirement? (sponsor)

If you’re one of the over 4 Million Americans  set to retire this year, you may want to pay attention.

Finding a financial advisor who puts your interest first can be the difference between a rich retirement and barely getting by, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been carefully vetted, and must act in your best interests. Start your search now.

Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.