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J. Crew Sets Terms for $368M IPO

NEW YORK CITY-The fashion retailer is offering 18.8 million shares at a price of $15 per share to $17 per share. The company also intends to expand its store base by between 25 and 35 stores annually.

By Dana Dubriwny | Updated on June 14, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

NEW YORK CITY-Fashion retailer J. Crew on Tuesday disclosed the terms of its pending initial public offering of 18.8 million shares at a price of $15 per share to $17 per share. Private-equity investor Texas Pacific Group, owner of J. Crew, will buy $73.5 million in common stock in connection with the IPO.

According to an amended filing with the Securities and Exchange Commission, the underwriters, represented by Goldman, Sachs & Co. and Bear, Stearns & Co. Inc., have the option to buy up to 2.82 million additional shares from J. Crew to cover overallotments. With these shares included, the company is anticipating as much as $367.54 million from the offering.

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