Simpson Thacher-Led Grocery Outlet Rings Up $378M Debut

Law360 (June 20, 2019, 4:11 PM EDT) -- Private equity-backed retailer Grocery Outlet Holding Corp. made its market debut Thursday in a $378 million initial public offering that saw the Simpson Thacher-led company price shares above an already upwardly revised range.

Emeryville, California-based Grocery Outlet priced approximately 17.2 million shares at $22 apiece, coming in well above the adjusted $18 to $19-per share range set by the company days earlier. Underwriters for the offering have the ability to purchase approximately 2.6 million additional shares, a move that would bring the total amount raised by Grocery Outlet to around $435 million.

Even without the additional shares, Grocery Outlet’s IPO is...

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