Five Below, a pre-teen to teen-focused retailer that offers all of its products at $5 or below, raised the proposed deal size for its upcoming IPO on Tuesday. The Philadelphia, PA-based company now plans to raise $154 million by offering 9.6 million shares (50% insider) at a price range of $15.00 to $17.00. The company's previous range was $12.00 to $14.00. At the midpoint of the revised range, Five Below will raise 23% greater proceeds than previously anticipated.
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. Goldman Sachs, Barclays and Jefferies & Co. are the joint bookrunners on the deal.
