NEW YORK (TheStreet) -- Burlington Stores
(BURL) was gaining 4.5% to $27.15 Thursday after pricing a 12 million share public offering by certain shareholders.
The retailer priced the secondary offering of common stock at $25.75 a share. The shareholders selling the common stock have granted the offering's underwriters a 30-day option to buy ip to 1.8 million additional shares. The offering will close on May 6.
As Burlington Stores is not selling any shares, the company won't receive any proceeds from the offering.
Must read: Warren Buffett's 10 Favorite Growth Stocks
SELL NOW: If you own any of the 900 stocks that TheStreet Quant Ratings has identified as a 'Sell'...you could potentially lose EVERYTHING in the next 6-12 months. Learn more.
BURL data by YCharts
"Burlington Stores, Inc. is a national off-price retailer of branded apparel, operating 503 stores, inclusive of an Internet store, in 44 states and Puerto Rico. The Company offers its merchandise using an Every Day Low Price (EDLP) model with savings up to 60-70% off department and specialty store regular prices. It provides its customers with a selection of fashionable branded product in women's ready-to-wear apparel, menswear, youth apparel, baby products, footwear, accessories, home goods and coats. The Company merchandise from over 3,500 vendors, with a focus on nationally-recognized brands. This vendor breadth provides its customers with a treasure hunt experience of searching for great brands at great value. The Company's average store size is approximately 80,000 square feet, which is two to three times the size of its off-price competitors' stores."
STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
Check Out Our Best Services for Investors
Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts