News

(RTTNews) - J.Jill Inc. (JILL) announced the pricing of the underwritten public offering of 2 million shares of its common stock at a price to the public of $31.00 per share.

J.Jill is offering 1 million shares and an affiliate of TowerBrook Capital Partners L.P., J.Jill's largest stockholder, is offering 1 million 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 noted that it will not receive any proceeds from the sale of shares by the selling stockholder.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.