In a sign of strong investor demand for small cap growth consumer stocks, specialty loose-leaf tea retailer Teavana priced its offering of 7.14 million shares at $17, a 21% premium to the mid-point of its proposed $13-$15 range. Teavana currently operates 161 company-owned and 19 franchised locations mostly in the US and plans to expand its store base to 500 locations by the end of 2015. BofA Merrill Lynch and Goldman Sachs acted as joint book-running managers for the offering, and the stock is expected to begin trading under the ticker symbol TEA on Thursday.
