For more information
Chairman & CEO
Managing Director &
Head of Consumer
Equity Capital Markets
Head of Equity
Senior Vice President
Senior Vice President
The Lovesac Company (Nasdaq: LOVE) has completed an underwritten public offering of 2,875,000 shares of its common stock. The offering consisted of 750,000 shares offered by Lovesac and 2,125,000 shares by certain selling stockholders of Lovesac, which includes 375,000 shares pursuant to the full exercise of the over-allotment option. The shares were sold at the public offering price of $36.00 per share, resulting in gross proceeds of approximately $103.5 million.
Lovesac intends to use the proceeds from this offering for increased sales and marketing expenses, product development, working capital and other general corporate purposes. Lovesac will not receive any of the proceeds from the sale of the shares offered by the selling stockholders but will bear the costs associated with the sale of such shares.
ROTH Capital Partners acted as joint book-running manager for the offering.
About The Lovesac Company
Based in Stamford, Connecticut, The Lovesac Company is a direct-to-consumer specialty furniture brand with over 75 retail showrooms supporting its ecommerce delivery model. Lovesac’s name comes from its original Durafoam filled beanbags called Sacs. The Company derives a majority of its current sales from its proprietary platform called Sactionals, a washable, changeable, reconfigurable, and FedEx-shippable solution for large upholstered seating. Founder and CEO, Shawn Nelson’s, “Designed for Life” philosophy emphasizes sustainable products that are built to last a lifetime and designed to evolve with the customer’s needs, providing long-term utility and ultimately reducing the amount of furniture discarded into landfills.
For more information, please visit www.lovesac.com. (Source: Company Press Release | 5/22/19)
About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven
investment bank focused on serving emerging growth companies and
their investors. As a full-service investment bank, ROTH provides
capital raising, M&A advisory, analytical research, trading,
market-making services and corporate access. Headquartered in
Newport Beach, CA, ROTH is privately-held and employee owned, and
maintains offices throughout the U.S. For more information on ROTH,
Date of Announcement: 6/3/19
The material, information and facts discussed in this announcement other than the information regarding ROTH Capital Partners, LLC
("ROTH") and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This announcement should not be used as a complete analysis of any
companies, securities or topics discussed herein. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or
estimates in this announcement are subject to change without notice. An investment in any security based on this announcement may involve risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements. Additionally, such investments may involve a high degree of risk and may not be suitable for all investors. No part of this announcement may be
reproduced in any form without the express written permission of ROTH. Copyright 2019.