Torrid Holdings secondary offering prices at $3.50 per share.

Torrid Holdings secondary offering prices at $3.50 per share.

Title: Torrid Holdings Announces Secondary Offering at $3.50 per Share

Torrid Holdings Inc. (NYSE: CURV) has announced the launch of a secondary offering of 10,000,000 shares of common stock. The company will not receive any proceeds from this offering, as it will be sold by certain stockholders of the Company (the "Selling Stockholders"). The Selling Stockholders intend to grant the underwriters a 30-day option to buy an additional 1,500,000 shares at the public offering price, less the underwriting discount and commissions [1].

In addition to the secondary offering, Torrid has agreed to purchase $20.0 million of its shares from Sycamore Partners at a price per share equal to the price per share to be paid by the underwriters in the Offering. This concurrent repurchase is expected to be consummated substantially concurrently with the closing of the Offering and is not conditioned upon the closing of the Concurrent Repurchase, but rather the Concurrent Repurchase is conditioned upon the closing of the Offering [1].

The secondary offering will be managed by BofA Securities, Jefferies, William Blair, and BTIG, with Telsey Advisory Group acting as a co-manager. The registration statement, including a prospectus, was initially filed with the U.S. Securities and Exchange Commission (SEC) on February 16, 2024, and has been declared effective [1].

Torrid Holdings is a direct-to-consumer brand specializing in sizes 10 to 30, offering stylish apparel, intimates, and accessories for the curvy woman. The company aims to provide fashionable, comfortable, and affordable options, distinguishing itself in the market [1].

The stock price of Torrid Holdings has seen fluctuations in recent months. On June 8, 2023, the stock fell by 7.3% in premarket trades. Additionally, the stock price target was cut to $5 from $7 by BofA Securities on July 26, 2022 [2]. These fluctuations highlight the market's evolving perception of the company's performance and potential.

The secondary offering price of $3.50 per share reflects the current market conditions and the company's strategic goals. Investors should review the registration statement, prospectus supplement, and accompanying prospectus for detailed information about the Offering and the Company [1].

References
[1] https://www.marketscreener.com/quote/stock/TORRID-HOLDINGS-INC-124258213/news/Torrid-Holdings-Inc-Announces-Launch-of-Secondary-Offering-of-Common-Stock-and-Concurrent-Share-Rep-50324746/
[2] https://www.marketwatch.com/investing/stock/curv