DTLR to sell 5,769,231 common shares in its initial public offering

Funds used to redeem preferreds, repay debt under term loan facility

By Devika Patel

Knoxville, Tenn., Dec. 2 - DTLR Holding, Inc. will sell 5,769,231 common shares in its initial public offering with a 30-day greenshoe of 865,384 additional shares, according to a Form S-1/A filed Monday with the Securities and Exchange Commission. The deal was announced Nov. 1.

Robert W. Baird & Co. Inc. and Piper Jaffray & Co. are the joint bookrunning managers. Stifel Nicolaus & Co. Inc., Canaccord Genuity Inc. and SunTrust Robinson Humphrey Inc. are the co-managers.

Proceeds will be used to redeem the company's series A preferred stock, to pay bonuses to management, to pay a termination fee owed to BRS Management, to repay debt under the company's term loan facility and for general corporate purposes.

The retailer of street-inspired footwear, apparel and accessories is based in Hanover, Md. It intends to list its common stock on the Nasdaq under the symbol "DTLR."

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