Shares of Duluth Holdings Inc., which priced its initial public offering at $12 per share Thursday, or $3 below its initial target, were trading above $14 Monday afternoon.

The shares began trading Friday on the NASDAQ under the ticker symbol “DLTH.”

The company, which sells its men’s and women’s casual wear, workwear and accessories direct to consumers as “Duluth Trading Co.,” listed 6,666,667 shares of its Class B common stock. The closing of the offering is expected to occur on November 25, 2015, subject to the satisfaction of customary closing conditions.

In addition, Duluth Trading has granted the underwriters a 30-day option to purchase up to an additional 1 million shares of its Class B common stock at the initial public offering price, less the underwriting discount.

The net proceeds to Duluth Trading from this offering, and after deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $72.5 million, or approximately $83.7 million if the underwriters fully exercise their option to purchase additional shares. Duluth Trading intends to use the net proceeds that it receives from this offering to repay borrowings under a short-term note used to fund part of its final “S” corporation distribution in connection with its conversion to a “C” corporation, retail store expansion and for general corporate purposes.

William Blair & Company, L.L.C., Robert W. Baird & Co. Incorporated, Raymond James & Associates, Inc. and BMO Capital Markets Corp. are acting as joint book-running managers of the proposed offering.