Arhaus Announces Secondary Offering of Class A Common Stock by Selling Stockholders
16 August 2023 - 6:49AM
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 that certain
selling stockholders affiliated with Freeman Spogli & Co.
(collectively, the “Selling Stockholders”) have commenced an
underwritten public offering of 12 million shares of the
Company’s Class A common stock (the “Offering”). Additionally, the
Selling Stockholders intend to grant the underwriters a 30-day
option to purchase up to an additional 1.8 million shares of the
Company’s Class A common stock. The proposed Offering is subject to
market conditions, and there can be no assurance as to whether or
when the proposed Offering may be completed or as to the actual
size or terms of the proposed Offering.
The Selling Stockholders will receive all of the proceeds from
the proposed Offering. Arhaus is not selling any shares of Class A
common stock in the proposed Offering and will not receive any of
the proceeds from the proposed Offering.
BofA Securities and Jefferies are acting as joint lead
book-running managers and as representatives for the proposed
Offering. Morgan Stanley and Piper Sandler are acting as active
book-running managers for the proposed Offering. Baird, Barclays,
Guggenheim Securities and William Blair are acting as book-running
managers for the proposed 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. The proposed Offering will be made only by means of a
preliminary prospectus supplement and an accompanying prospectus.
Before you invest, you should read the preliminary prospectus
supplement, accompanying prospectus and other documents the Company
has filed with the SEC for more complete information about the
Company and this Offering. A copy of the preliminary 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.
About ArhausFounded in 1986, Arhaus is a
rapidly growing lifestyle brand and omni-channel retailer of
premium home furnishings. Through a differentiated proprietary
model that directly designs and sources products from leading
manufacturers and artisans around the world, Arhaus offers an
exclusive assortment of heirloom quality products that are
sustainably sourced, lovingly made, and built to last. With more
than 85 showroom and design studio locations across the United
States, a team of interior designers providing complimentary
in-home design services, and robust online and eCommerce
capabilities, Arhaus is known for innovative design, responsible
sourcing, and client-first service.
Forward-Looking StatementsThis press release
contains forward-looking statements, within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. All statements
other than statements of historical fact included in this press
release are forward-looking statements. In particular, statements
as to the Offering, its size and potential completion are
forward-looking statements. These forward-looking statements are
sometimes identified from the use of forward-looking words such as
“believe,” “should,” “could,” “potential,” “continue,” “expect,”
“project,” “estimate,” “predict,” “anticipate,” “aim,” “intend,”
“plan,” “forecast,” “target,” “is likely,” “will,” “can,” “may” or
“would” or the negative of these terms or similar expressions
elsewhere in this press release. All forward-looking statements are
subject to a number of important factors, risks, uncertainties and
assumptions that could cause actual results to differ materially
from those described in any forward-looking statements. These
factors and risks include, but are not limited to, unanticipated
developments that could prevent, delay or negatively impact the
amount of, timing of, or the completion of, the proposed Offering
and the financial, operational and legal risks and uncertainties
detailed from time to time in the Company’s filings with the
Securities and Exchange Commission. Applicable risks also include
those identified under the heading “Risk Factors” in the Company’s
Annual Report on Form 10-K for the year ended December 31, 2022, as
updated by the Company’s subsequent Quarterly Reports on Form 10-Q
or under the heading “Risk Factors” included in the preliminary
prospectus supplement and in any subsequent filings with the SEC.
The Company assumes no obligation to update any forward-looking
statement, except as may be required by law. These forward-looking
statements speak only as of the date of this release. All
forward-looking statements are qualified in their entirety by this
cautionary statement.
Investor Contact:Wendy
WatsonSVP, Investor Relations(440) 439-7700
x3409invest@arhaus.com
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