Announces Pricing of Secondary Offering of Class A Common Stock by Selling Stockholders
Summary
BOSTON HEIGHTS, Ohio, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Arhaus, Inc. (Nasdaq: ARHS) (Arhaus or the Company), a rapidly growing lifestyle brand and omni-channel retailer of premium artisan-crafted home furnishings, announced today the pricing of the previously announced underwritten public offering of 12 million shares of the Companys Class A common stock (the Offering) by certain selling stockholders affiliated with Freeman Spogli & Co. (collectively, the Selling Stockholders), at a public offering price of $10.00 per share. The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to an additional 1.8 million shares of the Companys Class A common stock at the public offering price, less the underwriting discount.The Selling Stockholders will receive all of the proceeds from the Offering. Baird, Barclays, Guggenheim Securities, William Blair and Telsey Advisory Group are acting as book-running managers for the Offering. Academy Securities, Drexel Hamilton, Ramirez & Co., Inc. and Siebert Williams Shank are acting as co-managers for the Offering.The shares of Class A common stock are being offered pursuant to a registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission (SEC) on December 30, 2022. A copy of the prospectus supplement and accompanying prospectus relating to this Offering may be obtained, when available, from the website of the SEC at http://www.sec.gov or from BofA Securities, Attn: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255, email: dg.prospectus_requests@bofa.com; or Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, telephone: (877) 821-7388, email: Prospectus_Department@Jefferies.com.This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.Founded in 1986, Arhaus is a rapidly growing lifestyle brand and omni-channel retailer of premium home furnishings.