JACKSONVILLE, Fla., Oct. 15, 2010 (GLOBE NEWSWIRE) -- Body Central Corp. (Nasdaq:BODY) today announced the pricing of its initial public offering of 5,000,000 shares of common stock at a price of $13.00 per share. The shares will be listed on The NASDAQ Global Market and will trade under the symbol "BODY" beginning today, October 15, 2010. Body Central Corp. is offering 3,333,333 shares of common stock and selling shareholders are offering 1,666,667 shares of common stock. The underwriters have an option to purchase up to an additional 750,000 shares from certain selling shareholders. Body Central Corp. will not receive any proceeds from the sale of shares by the selling stockholders.
The Company expects to receive proceeds, net of underwriter's discount and commissions and estimated offering expenses payable by the Company, of approximately $37.8 million from the offering and intends to use the net proceeds to repay its senior secured credit facility, to redeem non-convertible, non-voting Series C preferred stock, to pay up to an aggregate of $1.0 million to specified employees under a success bonus plan and to fund working capital and other general corporate purposes.
Piper Jaffray & Co. and Jefferies & Company, Inc. are acting as joint book-running managers, and William Blair & Company and Robert W. Baird & Co. are acting as co-managers for the offering.
The offering is being made only by means of the written prospectus forming part of the effective registration statement. A copy of the final prospectus related to the offering may be obtained by contacting: Piper Jaffray & Co. Attention: Prospectus Department, 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402, telephone: 1-800-747-3924 or email: firstname.lastname@example.org ; or Equity Syndicate Prospectus Department, Jefferies & Company, 520 Madison Avenue, 12th Floor, New York, NY, 10022, at 877-547-6340 and at Prospectus_Department@Jefferies.com.
A registration statement relating to shares of the common stock of Body Central Corp. has been declared effective by the Securities and Exchange Commission on October 14, 2010. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
About Body Central Corp.
Founded in 1972, Body Central Corp. is a growing, multi-channel, specialty retailer offering on-trend, quality apparel and accessories at value prices. The Company operates 204 specialty apparel stores in 23 states under the Body Central and Body Shop banners, as well as a direct business comprised of a Body Central catalog and an e-commerce website at www.bodyc.com. The Company targets women in their late teens and twenties from diverse cultural backgrounds who seek the latest fashions and a flattering fit. Stores feature an assortment of tops, dresses, bottoms, jewelry, accessories and shoes sold primarily under the Company's exclusive Body Central® and Lipstick® labels.
CONTACT: ICR, Inc. For Body Central Corp. Investor Relations: c/o Jean Fontana Jean.email@example.com Joseph Teklits 203-682-8200