Abstract:
Lumber Liquidators went public by launching the Lumber Liquidators IPO in the year 2007. The BRLM or the Book Running Lead Managers were Merrill Lynch as well as Goldman Sachs. The article that follows unwinds information on the IPO offered by Lumber Liquidators.
Established in the year 1994, Lumber Liquidators, recorded a net sales of USD$332.1 million in the year 2006. The same year, operating income of the company recorded was USD$21.4 million. Brands, "multichannel approach" and "value proposition" are regarded as the company's competitive advantage.
Dealing in hardwood flooring, Lumber Liquidators, is a specialty retailer having gone public in the year 2007. The company launched the Lumber Liquidators IPO in the same year. Lumber Liquidators filed with the SEC or the Securities And Exchange Commission for introducing its Initial Public Offer.
Underwriters of the Lumber Liquidators IPO:
There were two underwriters in the deal of the IPO launched by Lumber Liquidators. They are:
- Merrill Lynch & Co.,
- Goldman Sachs & Co,
Listing of the Lumber Liquidators IPO:
The initial public offer traded on and was listed on the NYSE or the New York Stock Exchange.
Ticker Symbol of Lumber Liquidators IPO:
The stocks traded on the NYSE under ticker symbol "LL".
Details of the Lumber Liquidators IPO:
The company raised as much as USD$150 million from the IPO. As many as 11.5 million shares were offered. The price of the shares were fixed at $12 to $14 per share. From the Net proceeds approximately 43.4 million was utilized for debt repayment.
The retailer of hardwood flooring had priced about 10 million shares at USD$11. Originally, the price of the share fixed was $12 to $14 per share. It was also observed during the period when Lumber Liquidators IPO was launched that the housing market was going through a very weak phase. To add to the woes, the sale of hardwood flooring had also declined remarkably by as much as 20%. This trend was observed from early 2006.