Funds used for investments in fulfillment, technology infrastructure
By Devika Patel
Knoxville, Tenn., June 6 - LightInTheBox Holding Co., Ltd. priced its $78.85 million initial public offering of American depositary shares with an $11.83 million greenshoe in a prospectus filed Thursday with the Securities and Exchange Commission. It expects the shares to trade on the NYSE under the symbol "LITB."
The company will sell 8.3 million American depositary shares at $9.50 apiece. Each American depositary share represents two ordinary shares.
The Ceyuan Entities, GSR Ventures III, LP and Trustbridge Partners III, LP plan to participate.
Settlement is expected on June 11.
Credit Suisse, Stifel, Pacific Crest Securities, Oppenheimer & Co. and China Renaissance Securities (Hong Kong) Ltd. are assisting.
Proceeds will be used for investments in fulfillment and technology infrastructure, expansion of product offerings and categories, customer acquisition and brand building, payment of interest for the company's convertible notes and for general corporate purposes.
The online retail company is based in Beijing, China.
| Issuer: | LightInTheBox Holding Co., Ltd.
|
| Issue: | American depositary shares
|
| Amount: | $78.85 million
|
| Greenshoe: | $11,827,500
|
| ADS: | 8.3 million
|
| Price: | $9.50
|
| Warrants: | No
|
| Investors: | Ceyuan Entities, GSR Ventures III, LP and Trustbridge Partners III, LP
|
| Pricing date: | June 6
|
| Settlement date: | June 11
|
| Stock exchange: | NYSE: LITB
|
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