Aka Brands sets IPO at 13.9 million shares; See prices at $17-$19 each

By Colin Kellaher

Direct-to-consumer fashion platform, also known as Brands Holding Corp., said Monday it plans to sell nearly 13.9 million shares at between $17 and $19 each in its initial public offering.
At the midpoint of $18 of that range, the San Francisco company said it expects net proceeds of about $227 million, or about $261.9 million if the insurers exercise an option to purchase an additional 2.08 million shares. to buy.

In a filing with the U.S. Securities and Exchange Commission, alias said, it would have approximately 131.6 million shares outstanding after the IPO, assuming the exercise of the over-allotment option, for a market cap of approximately $2.37 billion at the midpoint of $18 a share.
Aka’s largest shareholder, Boston-based alternative investment firm Summit Partners, will still hold about 55%, assuming the over-allotment option is exercised.
Aka said it has been approved to list its shares on the New York Stock Exchange under the symbol AKA.
Write to Colin Kellaher at [email protected]