HOUSTON, July 22, 2011 (GLOBE NEWSWIRE) -- Francesca's Holdings Corporation ("francesca's collections") today announced the pricing of its initial public offering of 10,000,000 shares of common stock at a price of $17.00 per share. The shares will be listed on The NASDAQ Global Select Market and will trade under the symbol "FRAN" beginning today, July 22, 2011. Francesca's Holdings Corp. is offering 2,941,176 shares of common stock and selling stockholders, which include affiliates of CCMP Capital Advisors, LLC, are offering 7,058,824 shares of common stock. The underwriters have an option to purchase up to an additional 1,500,000 shares from certain selling stockholders. Francesca's Holdings Corp. will not receive any proceeds from the sale of shares by the selling stockholders.
The Company expects to receive proceeds, net of underwriter's discount and commissions and estimated offering expenses payable by the Company, of approximately $44.1 million from the offering and intends to use the net proceeds together with borrowings under the Company's new revolving credit facility, to repay existing senior secured credit facility in full.
The offering is being made only by means of the written prospectus forming part of the effective registration statement. A copy of the final prospectus related to the offering may be obtained by contacting: Prospectus Department, Goldman, Sachs & Co., 200 West Street, New York, NY 10282; Prospectus Department, J.P. Morgan Securities LLC, Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; Prospectus Department, Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY, 10022.
A registration statement relating to shares of the common stock of Francesca's Holdings Corp. has been declared effective by the Securities and Exchange Commission on July 21, 2011. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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.
About Francesca's Holdings Corp.
Francesca's Collections is a growing specialty retailer with boutiques designed and merchandised to feel like independently owned, upscale boutiques and provide customers with an inviting, intimate and differentiated shopping experience. The assortment is made up of a diverse and uniquely balanced mix of high-quality, trend-right apparel, jewelry, accessories and gifts at attractive prices. Francesca's Collections appeals to the 18-35 year-old, fashion conscious, female customer, although finds that women of all ages are attracted to the eclectic and sophisticated merchandise selection and boutique setting. The boutiques carry a broad selection but limited quantities of individual styles and new merchandise is introduced five days a week to create a sense of scarcity and newness.