Savers Value Village dips after $139 million secondary offering

Savers Value Village

15/05/2025 10:42

** Shares of thrift operator Savers Value Village SVV.N fall 1.25% to $9.45 premarket

** SVV late Wednesday announced pricing of its secondary offering in which certain investors sold 15 million shares at $9.25 apiece for gross proceeds of $138.8 million

** Selling shareholders include alternative investment manager Ares Management ARES.N and SVV CEO Mark Walsh

** Offering priced at a 3.3% discount to stock's last close

** Stock slid 12.9% on Tuesday after SVV unveiled the secondary offering, followed by a 2.7% fall on Wednesday

** J.P. Morgan, Jefferies, Goldman Sachs and UBS Investment Bank were the joint lead book-running managers for the offering

** Concurrently, SVV will purchase $20 million of shares from the underwriters as part of the offering

** 5 of 8 brokerages rate the stock "buy" or higher and 3 "hold"; median PT $12.50 - data compiled by LSEG

** As of last close, SVV down 6.6% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))