By Colin Kellaher
The direct-to-consumer fashion platform, aka Brands Holding Corp., on Monday announced plans to sell nearly 13.9 million shares at $ 17 to $ 19 each when it goes public.
In the middle of $ 18 of that range, the San Francisco-based company said it expects net proceeds of about $ 227 million, or about $ 261.9 million if the underwriters exercise an option to ‘purchase of 2.08 million additional shares.
In a filing with the United States Securities and Exchange Commission, aka said he would have approximately 131.6 million shares outstanding after the IPO, assuming the exercise of the option to over-allotment, for a market cap of approximately $ 2.37 billion at a median price of $ 18 per share.
Aka’s largest shareholder, the alternative investment firm of Boston Summit Partners, will still hold a stake of around 55%, assuming the exercise of the over-allotment option.
Aka said it was authorized to list its shares on the New York Stock Exchange under the symbol AKA.
Write to Colin Kellaher at [email protected]
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