J.Jill tumbles on stock offering plans

JJill

12/06/2024 21:46

** J.Jill's  JILL.N  shares down 17% at $32.83 post-market
on women's apparel retailer's planned stock offering
    ** Co announces 2 mln share offering, including 1 mln shares
to be sold by largest holder, TowerBrook Capital Partners
    ** Co plans to use net offering proceeds it receives to
repay debt and for general purposes
    ** Sale would take investment management firm TowerBrook's
stake from 61.4% to 50.69%, or ~7.6 mln shares, per SEC
prospectus filing
    ** Jefferies, William Blair and TD Cowen jt bookrunners
    ** JILL shares had gained 12% since co on Fri raised annual
net sales forecast on robust demand
    ** Shares on Weds closed up 2.5% at $39.55. Stock up 53% YTD
and up ~90% over the past 12 months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))