Teavana Holdings, Inc., a retailer of tea and tea-related merchandise, announced terms for its IPO on Monday. The Atlanta, GA-based company plans to raise $100 million by offering 7 million shares at a price range of $13 to $15. At the mid-point of the proposed range, Teavana will command a market value of $553 million. Teavana, which was founded in 1997 and booked $134 million in sales for the 12 months ended May 1, 2011, plans to list on the NYSE under the symbol TEA. BofA Merrill Lynch and Goldman, Sachs & Co. are the lead underwriters on the deal, which is expected to price during the week of July 25.
