Business & Tech
Hanover Clothing Retailer Sets Terms For IPO
DTLR Holding hopes to raise about $75 million from an IPO. Shares will be priced between $12 and $14.
A Hanover-based maker of "street-inspired" clothing and accessories is planning to raise more than $75 million in an initial public offering.
DTLR Holding offered details of its planned IPO on Monday, and said it hopes to sell 5.8 million shares at a price range of $12 to $14, according to an SEC filing.
Based on those prices, the company represents a potential market value of $214 million.
DTLR brought in $101 million in sales for the 26-week period ending Aug. 3. It also reported $536,000 in profits, or 9 cents per share, for the same period.
DTLR operates 99 stores in 12 states and Washington, DC.
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