JOANN Inc.

JOANN Inc. (JOAN) priced its initial public offering on Mar 15, 2021 at $12.00 per share, below its $15.00–$17.00 range, raising $131.2M, and listed on Nasdaq Global Market. At the IPO price its market capitalization was about $484.5M. BofA Securities was lead-left underwriter, joined by Credit Suisse, Guggenheim and Barclays and others. Latham & Watkins advised the company and Simpson Thacher advised the underwriters.

JOANN Inc. is a retailer for DIY and creative customers, selling SKU-intensive, lower-ticket merchandise across a wide variety of categories, with a particularly broad assortment in sewing.

Status

IPO

Ticker

JOAN

Exchange

Nasdaq Global Market

Priced

Mar 15, 2021

IPO price

$12.00

Price range

$15.00–$17.00

Raised

$131.2M

Market cap at IPO price

$484.5M

First filed

Feb 16, 2021

Underwriters

BofA Securities, Credit Suisse, Guggenheim, Barclays, Wells Fargo, Piper Sandler, William Blair, Telsey, Loop Capital and Ramirez & Co.

Company counsel

Latham & Watkins

Underwriters' counsel

Simpson Thacher

Sector

Consumer

Country / state

OH

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.