Belleville, Wisconsin-based Duluth Holdings Inc, more commonly known as Duluth Trading Co, had a solid first day of trading on the NASDAQ Global Select Market. The stock, under the ticker symbol “DLTH,” closed the day up $1.65, or 13.65%, from its opening price of $12.00 per share.
Yesterday, Duluth Holdings announced the pricing of its initial public offering of 6,666,667 shares of its Class B common stock at a public offering price of $12.00 per share, slightly below the expected $14-16 price range; the total value of the IPO was projected to be $100 million with a market capitalization of $419 million.
William Blair & Company LLC, Robert W. Baird & Co Inc, Raymond James & Associates Inc, and BMO Capital Markets Corp acted as joint book-running managers of the proposed offering.
Duluth Holdings Inc, more commonly known as Duluth Trading Co, is a growing retailer that specializes in men’s and women’s casual wear, work wear, and accessories. The company sells its products through its own channels.