OMAHA, Neb., Aug 05, 2010 (BUSINESS WIRE) -- Gordmans Stores, Inc. (Nasdaq: GMAN), an Omaha-based apparel and home
décor retailer, today announced the pricing of its initial public
offering of 5,357,143 shares of common stock at a price of $11.00
share. The shares will be listed on The Nasdaq Global Select Market and
will trade under the ticker symbol "GMAN" beginning today, August 5,
2010. Gordmans Stores, Inc. is offering 3,214,286 shares of common stock
and selling shareholders are offering 2,142,857 shares of common stock.
The underwriters have an option to purchase up to an additional 803,571
shares from certain selling shareholders. Gordmans will not receive any
proceeds from the sale of shares by the selling shareholders.
The Company expects to receive proceeds, net of underwriter's discount,
of approximately $29.8 million from the offering and intends to use the
net proceeds to pay fees and expenses incurred in connection with this
offering, pay down borrowings under its revolving line of credit
facility, and for working capital and general corporate purposes.
Piper Jaffray & Co. and Wells Fargo Securities, LLC are acting as joint
book-running managers, and Robert W. Baird & Co. and Stifel Nicolaus
Weisel are serving as co-managers for the offering.
The offering will be made only by means of a prospectus. A copy of the
prospectus related to the offering may be obtained by contacting: Piper
Jaffray & Co, Attention: Equity Syndicate Department, 800 Nicollet Mall,
Minneapolis, MN 55402, or by calling toll-free at 800-754-4781; or Wells
Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park
Avenue, New York, New York 10152, or by calling toll-free 800-326-5897
or email a request to
A registration statement relating to these securities has been declared
effective by the Securities and Exchange Commission on August 4, 2010.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
About Gordmans Stores, Inc.
Gordmans is an everyday low price department store concept featuring a
large selection of the latest brands, fashions and styles at up to 60%
off department and specialty store regular prices every day in a fun,
easy-to-shop environment. Our merchandise assortment includes apparel
for all ages, accessories, footwear and home décor. The origins of
Gordmans date back to 1915, and as of August 4, 2010, we operated 68
stores in 16 primarily Midwestern states situated in a variety of
shopping center developments, including regional enclosed shopping
malls, lifestyle centers and power centers. For more information, please
SOURCE: Gordmans Stores, Inc.
Gordmans Stores, Inc.
Mike James, 402-691-4126 Chief Financial Officer or Investor Relations: ICR, Inc. Brendon Frey / James Palczynski 203-682-8200
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