Ollie’s Bargain Outlet Holdings has announced that certain g stockholders of the company, including co-founder and CEO Mark Butler, intend to offer 6,500,000 shares of its common stock in a secondary public offering.
In addition, certain of the selling stockholders intend to offer, at the option of the underwriters, up to an additional 975,000 shares of common stock.
The selling stockholders will receive all proceeds from the offering, according to the company.
J.P. Morgan, Jefferies and BofA Merrill Lynch will serve as joint lead book-running managers and as representatives of the underwriters for the proposed offering.
Ollie’s initial public offering was made in July 2015.