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Companies and Brands

Five Below Debuts in Strong IPO Pricing

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By Jon C. Ogg Updated Published
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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

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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