JP Outfitters, which sells branded apparel direct-to-consumer via web and catalog, announced terms for its IPO on Monday.
The Cincinnati, OH-based company plans to raise $10 million by offering 2.4 million shares at $4. At the proposed price, JP Outfitters would command a market value of $70 million.
JP Outfitters is a proprietary branded apparel, footwear, and accessory company that designs, sources, markets, and distributes products under The J. Peterman Company and The Territory Ahead lifestyle brands. The company operates a direct-to-consumer model, distributing its products directly to customers via print catalogs, its main marketing tool, as well as through the web, supplemented with social media and regular email communication. The company states that, with no physical locations, it requires lower inventory levels and capital expenditures compared to traditional brick-and-mortar retailers.
JP Outfitters was founded in 1987 and booked $25 million in sales for the 12 months ended June 30, 2023. It plans to list on the Nasdaq under the symbol JPO. Aegis Capital Corp. is the sole bookrunner on the deal.
