Gordmans Stores, an off-price department store chain operating 67 stores in the Midwest, announced terms for its IPO on Friday. The Omaha, NE-based company plans to raise $75 million by offering 5.4 million shares at a price range of $13-$15. At the mid-point of the proposed range, Gordmans Stores will command a market value of $262 million. Gordmans Stores, which was founded in 1915 and booked $458 million in sales last year, plans to list on the NASDAQ under the symbol GMAN. Piper Jaffray and Wells Fargo Securities are the lead underwriters on the deal, which is expected to price during the week of August 2.
