Torrid shares extend slump as secondary offering prices

Torrid Holdings

12/09/2024 12:20

** Shares of women's apparel retailer Torrid Holdings
 CURV.N  down 12.6% at $4.29 premarket after secondary offering
prices
    ** California-based firm announces 8 mln shares at $4 sold
by certain stockholders
    ** On Weds, CURV shares tumbled 26.5% to close at $4.91
after co launched offering in which private equity firm Sycamore
Partners and CEO Lisa Harper would sell shares
    ** Offering reduces Sycamore's holdings to ~75 mln shares,
or 71.7% stake, and takes Harper's stake to 4.94%
    ** BofA, Goldman, Jefferies and William Blair are jt
bookrunners
    ** Through Weds, shares down ~14% YTD. Stock closed at $1.34
a year ago
    ** 4 of 5 analysts rate CURV "hold", 1 recommends "sell" and
their median PT is $7, per LSEG

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))