Plano based 'At Home' goes IPO

Plano based home décor retailer ‘At Home’ announced the pricing of its initial public offering of 8,667,000 shares of its common stock at a public offering price of $15 per share. The launch however didn’t exactly set the house on fire. ([stock_quote symbol=”HOME” zero=”#0000ff” minus=”#ff0000″ plus=”#00ff00 nolink=”1“] is not yet on Google Finance yet. Check NYSE website.)

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Last Trades: Most recently, their ticker symbol ‘HOME’ shares were trading at $15.15 apiece—just 15 cents above the issue price. That’s well below the average 16.2% pop achieved by all initial public offerings made so far this year, and also misses the 13.5% average for home furnishing retailers since 2002, according to IPO ETF manager Renaissance Capital. (Source: fortune.com)

The Company has granted the underwriters a 30-day option to purchase up to an additional 1,300,050 shares of its common stock. Shares of the Company’s common stock began trading on August 4, 2016 on the New York Stock Exchange under the symbol “HOME.” The offering is expected to close on August 9, 2016, subject to the satisfaction of customary closing conditions.

BofA Merrill Lynch, Goldman, Sachs & Co., Jefferies and Morgan Stanley are acting as joint book-running managers in the offering. Evercore ISI, Guggenheim Securities and William Blair are acting as co-managers in the offering.

CEO: Lee Bird is their Chief Executive. The $200-billion U.S. home furnishings market has reported steady annual growth of about 3% over the past decade, according to Bird, performing better than many other retail categories.

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