Arhaus, a premium home furnishings retailer with 75 locations across the US, raised $168 million by offering 12.9 million shares (100% primary) at $13, below the range of $14 to $17. The offering was originally expected contain 22.9 million shares (56% primary).
Arhaus calls itself a lifestyle brand and omni-channel retailer of premium home furnishings, offering a differentiated direct-to-consumer approach and artisan-quality products that embody its emphasis on "livable luxury." Its products are sourced directly from factories and suppliers. The company's direct sourcing network consists of more than 400 vendors, and it has 75 Showrooms across 27 states.
Arhaus plans to list on the Nasdaq under the symbol ARHS. BofA Securities, Jefferies, Morgan Stanley, Piper Sandler, Baird, Barclays, Guggenheim Securities, William Blair, and Telsey Advisory Group acted as joint bookrunners on the deal.
