Tilly's Inc., which initially filed for an IPO in July 2, said in an
amendment to its
filing that it expects to raise $86.4 million from its initial public
offering. The amount is based on an IPO price of $12.50 per
The IPO price range was set between $11.50 and $13.50 a share. Overall, 8 million shares at being sold.
Most of the offerings proceeds – $84 million – will go to current
shareholders, according to a document filed with the U.S. Securities and
Exchange Commission Monday. Tilly’s founders Hezy Shaked and Tilly
Levine, along with their families, are expected to retain 96 percent of
The remaining $2.4 million of the offering's projected funds is expected to be used as working capital by the company.
The offering is being made through Goldman, Sachs & Co., BofA
Merrill Lynch, Piper Jaffray, William Blair & Company, and Stifel