Bob’s Discount Furniture has filed a registration statement with the Securities and Exchange Commission to pursue an initial public offering of 19.45 million shares of its common stock. The company indicated it anticipates pricing the shares in a range between $17.00 and $19.00 each.
Included in the filing is a 30-day option for underwriters to purchase up to an additional 2.92 million shares, but those shares would be sold by an existing stockholder rather than newly issued by the company. As a result, Bob’s Discount Furniture will not receive proceeds from any shares sold by that selling stockholder.
The company has applied to list its common stock on the New York Stock Exchange under the proposed ticker symbol "BOBS." The filing names J.P. Morgan Securities and Morgan Stanley as joint-lead book-running managers for the offering. RBC Capital Markets and UBS Securities are also listed as book-running managers, while BofA Securities, Evercore Group and Goldman Sachs are named as bookrunners.
Additional financial firms are participating as co-managers on the deal. Those listed in the registration include Baird, KeyBanc Capital Markets, Raymond James & Associates, AmeriVet Securities, Loop Capital Markets, R. Seelaus & Co. and Samuel A. Ramirez & Company.
The company’s filing notes that the registration statement has not yet become effective. Accordingly, the securities described in the filing cannot be sold until the registration becomes effective. The filing also states that any offering of the securities will be made only through a prospectus, consistent with SEC requirements and standard practice for public offerings.
Offer mechanics and underwriting arrangement
The proposed base offering is for 19.45 million common shares, with an underwriter option to buy 2.92 million additional shares from an existing holder during a 30-day period. The optioned shares originate from a selling stockholder, and the company will not receive the proceeds from the sale of those particular shares.
Listing and regulatory status
Bob’s Discount Furniture has applied for listing on the New York Stock Exchange under the ticker "BOBS." The registration statement remains subject to effectiveness by the SEC, and the company highlights that sales of the securities cannot occur until that effectiveness is achieved and the offering is conducted pursuant to a prospectus.