MONTREAL, June 4, 2015 (GLOBE NEWSWIRE) -- DAVIDsTEA, Inc. (Nasdaq:DTEA), today announced the pricing of its initial public offering of 5,100,000 shares of common stock at a price of $19.00 per share. The Company's shares are expected to begin trading on The NASDAQ Global Market on June 5, 2015 under the ticker symbol "DTEA." In addition, the underwriters have been granted a 30-day option to purchase up to an additional 765,000 shares at the initial public offering price, less underwriting discounts and commissions.
The offering is being made through an underwriting group led by Goldman, Sachs & Co., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated. Acting as co-managers are BMO Capital Markets Corp. and William Blair & Company, L.L.C.
The offering of these securities is being made only by means of a prospectus. When available, a copy of the final prospectus related to the offering may be obtained by contacting: Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282 (Tel: 866-471-2526), Email: firstname.lastname@example.org; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717 (Tel: 866-803-9204).
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. 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 offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About DAVIDsTEA, Inc.
DAVIDsTEA is a fast-growing branded beverage company, offering a differentiated selection of proprietary loose-leaf teas, pre-packaged teas, tea sachets and tea-related gifts and accessories. As of May 2, 2015, the Company owned and operated 161 DAVIDsTEA stores throughout the United States and Canada. The Company is headquartered in Montréal, Canada.
CONTACT: Investor Contact:
ICR, Inc.Farah Soi/Rachel Schacter
ICR, Inc.Jessica Liddell/Julia Young