At Home Files IPO

At Home has filed for an initial public offering with the United States Securities and Exchange Commission for initial issuance of about 8.7 million shares, which will afford purchasers a total of 15% ownership in the company.

The sponsors will retain 85% ownership. AEA Investors and Starr Investment Holdings are the offering sponsors. AEA and affiliates of Starr Investment acquired At Home in 2011.

The company said it will use proceeds from the IPO to pay debt. Initial shares will be priced in the range of $14 to $16, according to media reports. At Home will apply to list its common stock on the New York Stock Exchange, using the ticker symbol HOME.

According to a prospectus included in the filing, At Home net sales for the fiscal year ended January 30 were $622.2 million versus $497.7 million in the period a year earlier. Net income was $3.6 million versus a net loss of $436,000 in the fiscal year prior.

On its website, At Home noted that its stores average 120,000 square feet in size and offer approximately 50,000 items across product categories such as furniture, garden, home textiles, housewares, patio, rugs, seasonal décor, tabletop décor and wall décor. The retailer has recently been expanding its housewares selection.

Formerly Garden Ridge, At Home operates 115 stores in 29 states.