Vince Holding Prices IPO Of 10 Mln Shares At $20/shr - Quick Facts

(RTTNews) - Vince Holding Corp., previously known as Apparel Holding Corp., Friday said it priced its initial public offering of 10 million common shares at $20 per share. The shares will be listed on the New York Stock Exchange, under the symbol "VNCE", and begin trading from November 22. Further, the underwriters have a 30-day option to purchase up to an additional 1,500,000 shares from affiliates of Sun Capital Partners, Inc., the selling stockholders.

Vince expects net proceeds of about $177 million from the offering, of which it intends to retain about $5 million for general corporate purposes. Along with borrowings under its new senior credit facility, the company plans to use the rest of the proceeds to repay all of its outstanding borrowings and other amounts owed under its existing credit facilities.

Goldman, Sachs & Co. and Robert W. Baird & Co. Incorporated are acting as joint book-running managers of the offering, and Goldman, Sachs & Co. and Robert W. Baird & Co. Incorporated are the representatives of the underwriters. In addition, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are joint bookrunning managers in the offering.