Party City Holdco, a vertically integrated party supplies retailer with about 900 locations, announced terms for its IPO on Monday.
The Elmsford, NY-based company plans to raise $350 million by offering 21.9 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Party City would command a fully diluted market value of $2.0 billion.
Party City Holdco, which was founded in 1947 and booked $2.3 billion in sales for the 12 months ended December 31, 2014, plans to list on the NYSE under the symbol PRTY. Goldman Sachs, BofA Merrill Lynch, Credit Suisse, Morgan Stanley, Barclays, Deutsche Bank and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of April 13, 2015.
