Credit: Shutterstock photoTurning Point Brands, which sells tobacco products in the US under the Zig-Zag and Stoker's brands, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
Primary shareholders include PE firm Standard General (27% pre-IPO stake), founder Thomas Helms (over 24%) and CEO Lawrence Wexler (7%).
The Louisville, KY-based company was founded in 1988 and booked $199 million in sales for the 12 months ended September 30, 2015. It plans to list on the NYSE under the symbol TPB. Turning Point Brands filed confidentially on September 25, 2015. FBR Capital Markets is the sole bookrunner on the deal. No pricing terms were disclosed.
The article Zig-Zag papers maker Turning Point Brands files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
