Citi Trends, Inc. (NASDAQ: CTRN) announced today the pricing of its initial public offering of 3,850,000 shares of its common stock at a price of $14.00 per share. Of the shares offered, 2,700,000 are being offered by Citi Trends, Inc. and 1,150,000 are being offered by certain selling stockholders. Citi Trends, Inc. has granted to the underwriters a 30-day option to purchase up to an additional 577,500 shares at the initial public offering price to cover over-allotments, if any.
The Citi Trends, Inc. common stock has commenced trading on the Nasdaq National Market under the ticker symbol "CTRN" on Wednesday, May 18, 2005.
The lead manager of the underwriting syndicate for the offering is CIBC World Markets, and Piper Jaffray, SG Cowen & Co. and Wachovia Securities are acting as co-managers.
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Citi Trends, Inc. (NASDAQ: CTRN)
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Citi Trends, Inc. is a value-priced retailer of urban fashion apparel and accessories for the entire family.
Hampshire Equity Partners ("HEP") invests in established middle-market companies, with the goal of helping them to execute their growth plans and enhance their value. Since 1990 HEP has investing over $700 million of equity capital in 36 portfolio companies. HEP is currently investing the capital from Hampshire Equity Partners III, LP, a fund raised in 2001.
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