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Grocery Outlet Holdings sets terms for $275 million IPO


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Grocery Outlet Holdings, which operates a network of more than 300 independently-run discount grocery stores, announced terms for its IPO on Monday.

The Emeryville, CA-based company plans to raise $275 million by offering 17.2 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Grocery Outlet Holdings would command a fully diluted market value of $1.4 billion.

Grocery Outlet Holdings was founded in 1946 and booked $2.3 billion in sales for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol GO. BofA Merrill Lynch, Morgan Stanley, Deutsche Bank, Jefferies, Barclays, Goldman Sachs, Guggenheim Securities, UBS Investment Bank and Cowen are the joint bookrunners on the deal. It is expected to price on June 19, 2019.

The article Grocery Outlet Holdings sets terms for $275 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





This article appears in: News Headlines , IPOs



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