Torrid Holdings Inc. announced the pricing of an underwritten public offering of 10,000,000 shares of its common stock by certain selling stockholders at a price of $3.50 per share. The company will not receive any proceeds from the sale of these shares by the selling stockholders.
Concurrently with the offering, Torrid has agreed to repurchase $20.0 million of its common stock from Sycamore Partners. These repurchased shares will be held as treasury stock upon completion of the transaction.
The offering is expected to close on or about June 26, 2025, subject to customary closing conditions. The concurrent repurchase is conditioned upon the closing of the offering, but the offering is not conditioned upon the repurchase.
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