The Container Store, which is the only national retail chain of storage and organization products, raised the proposed deal size for its upcoming IPO on Wednesday. The Coppell, TX-based company now plans to raise up to $225 million by offering 12.5 million shares at a price range of $17 to $18. The company had previously filed to offer the same number of shares at a range of $14 to $16. At the high end of the revised range, The Container Store Group will raise 20% greater proceeds than previously anticipated.
The Container Store, which was founded in 1978 and booked $736 million in sales for the 12 months ended August 31, 2013, plans to list on the NYSE under the symbol TCS. J.P. Morgan, Barclays, Credit Suisse, Morgan Stanley, BofA Merrill Lynch, Wells Fargo Securities and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of October 28, 2013.
