J.Jill Announces Pricing of Public Offering of Common Stock
June 12 2024 - 10:15PM
Business Wire
J.Jill, Inc. (NYSE: JILL) (“J.Jill”), a premier omnichannel
retailer and nationally recognized women’s apparel brand, today
announced the pricing of the underwritten public offering of
2,000,000 shares of its common stock at a price to the public of
$31.00 per share. J.Jill is offering 1,000,000 shares and an
affiliate of TowerBrook Capital Partners L.P., J.Jill’s largest
stockholder (the “selling stockholder”), is offering 1,000,000
shares. The selling stockholder has also granted the underwriters a
30-day option to purchase up to an additional 300,000 shares of
J.Jill’s common stock. The offering is expected to close on June
14, 2024, subject to the satisfaction of customary closing
conditions.
The gross proceeds to J.Jill from the offering, before deducting
underwriting discounts and commissions and estimated offering
expenses payable by J.Jill, are expected to be $31.0 million.
J.Jill intends to use the net proceeds from its sale of shares for
repayment of its debt and general corporate purposes. J.Jill will
not receive any proceeds from the sale of shares by the selling
stockholder.
Jefferies, William Blair and TD Cowen are acting as joint
book-running managers for the offering. BTIG is acting as a
bookrunner for the offering. Telsey Advisory Group is acting as a
co-manager for the offering.
The securities described above are being offered pursuant to an
effective shelf registration statement that was declared effective
by the U.S. Securities and Exchange Commission (the “SEC”) on
September 25, 2023. This offering is being made only by means of a
prospectus supplement and the accompanying prospectus that forms a
part of the effective shelf registration statement.
A preliminary prospectus supplement related to the offering
(including the accompanying prospectus) has been previously filed
with the SEC and is available on the SEC’s website located at
www.sec.gov. Copies of the final prospectus supplement and the
accompanying prospectus will be filed with the SEC may be obtained,
when available, by visiting the SEC’s website or by contacting:
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, New York, New York 10022, via telephone: (877)
821-7388 or via email: Prospectus_Department@Jefferies.com; William
Blair & Company, L.L.C., Attention: Prospectus Department, 150
North Riverside Plaza, Chicago, Illinois 60606, by telephone at
(800) 621-0687 or by email at prospectus@williamblair.com; or TD
Securities (USA) LLC, 1 Vanderbilt Avenue, New York, New York
10017, by telephone at (855) 495-9846, or by email at
TD.ECM_Prospectus@tdsecurities.com.
This press release shall 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.
About J.Jill, Inc.
J.Jill is a national lifestyle brand that provides apparel,
footwear and accessories designed to help its customers move
through a full life with ease. The brand represents an easy,
thoughtful and inspired style that celebrates the totality of all
women and designs its products with its core brand ethos in mind:
keep it simple and make it matter. J.Jill offers a high touch
customer experience through over 200 stores nationwide and a robust
ecommerce platform. J.Jill is headquartered outside Boston.
Forward-Looking Statements
Certain statements contained in this press release, including
those relating to the timing and completion of the offering, the
satisfaction of customary closing conditions related to the
offering, the anticipated gross proceeds of the offering and the
use of proceeds from the offering, are forward-looking statements
that involve a number of risks and uncertainties that could cause
actual results to differ materially from those in the
forward-looking statements. These risks and uncertainties include,
but are not limited to, risks and uncertainties associated with the
consummation of the proposed offering, market conditions, general
economic conditions and other risks identified from time to time in
J.Jill’s filings with the SEC, including the factors set forth
under “Risk Factors” in J.Jill’s Annual Report on Form 10-K for the
fiscal year ended February 3, 2024, as well as the preliminary
prospectus supplement and accompanying prospectus related to the
proposed offering to be filed with the SEC. You are encouraged to
read J.Jill’s filings with the SEC, available at www.sec.gov, for a
discussion of these and other risks and uncertainties. J.Jill
cautions investors, potential investors and others not to place
considerable reliance on the forward-looking statements in this
press release. Any such forward-looking statement speaks only as of
the date on which it is made. J.Jill undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future developments or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240612546160/en/
Investor Relations: Caitlin Churchill ICR, Inc.
investors@jjill.com 203-682-8200 Business and Financial
Media: Ariel Kouvaras Sloane & Company
akouvaras@sloanepr.com 973-897-6241 Brand Media: J.Jill,
Inc. media@jjill.com 617-376-4399
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