Five Below, a pre-teen to teen-focused retailer that offers all of its products at $5 or below, announced terms for its IPO on Monday. The Philadelphia, PA-based company plans to raise $125 million by offering 9.6 million shares (50% insider) at a price range of $12.00 to $14.00. At the midpoint of the proposed range, Five Below would command a market value of $708 million.
Five Below, which was founded in 2002 and booked $322 million in sales for the 12 months ended 4/28/2012, plans to list on the NASDAQ under the symbol FIVE. Private equity-firms Advent International and LLR Partners are both selling 9.3% of their stake and will hold 52% and 8%, receptively, after the offering. Goldman Sachs, Barclays and Jefferies & Co. are the joint bookrunners on the deal.
