Follow-On Offering

Consumer
Follow-On Offering

Summary

Baird served as a joint-bookrunner on this offering

About

Tile Shop Holdings, Inc. (“Tile Shop” or the “Company”) (NASDAQ: TTS) recently completed a follow-on offering of 4,887,500 shares of common stock at a price of $24.25 per share, generating gross proceeds of approximately $118.5 million. All of the shares offered were sold by selling shareholders of the Company. The Company will not receive any proceeds from the offering. Concurrent with the completion of this offering, the Company repurchased approximately 2,000,000 shares for $46.0 million from Nabron International Inc. (one of the selling shareholders), at a price per share of $23.15, equal to the public offering price, less the underwriting discount.

The Tile Shop is a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. The Tile Shop sells over 4,500 products from around the world. Tile Shop purchases its tile products and accessories directly from producers. Tile Shop manufactures its own setting and maintenance materials, such as thinset, grout, and sealers under the Company’s Superior brand name. Tile Shop operates 73 stores in 24 states. Tile Shop Holdings, Inc. is headquartered in Plymouth, Minnesota.

For additional information about this transaction, please contact:

Chris Harned (414) 765-3908
Chris Sciortino (312) 609-4923
Peter Kies (414) 765-7262
Les Cheek (617) 426-5789
Maria Watts (312) 609-4743
Vinay Ghai +44 (0) 20 7667 8225
Consumer
Follow-On Offering
Date
June 2013
Company
Tile Shop Holdings, Inc.
Transaction
M&A
Sectors
Consumer
Target Location
North America

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