Arhaus Announces Pricing of Secondary Offering of Class A Common Stock by Selling Stockholders
17 August 2023 - 12:02PM
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 Company’s 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 Company’s 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. Arhaus is not selling any shares of Class A common
stock in the Offering and will not receive any of the proceeds from
the Offering. The Offering is expected to close on or about August
21, 2023.
BofA Securities and Jefferies are acting as joint lead
book-running managers and as representatives for the Offering.
Morgan Stanley and Piper Sandler are acting as active book-running
managers for 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. The Offering is being made only by means of a prospectus
supplement and an accompanying prospectus. Before you invest, you
should read the 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 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 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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