General Newsroom Hero 1920x480 (4:1)
Our Work

Latham & Watkins Advises JOANN Inc. in IPO

March 15, 2021
Capital markets team represents the leader in sewing and fabrics and one of the fastest growing players in the arts and crafts industry in the offering.

JOANN Inc., the nation’s category leader in sewing and fabrics and one of the fastest growing players in the arts and crafts industry, has announced the pricing of its initial public offering of 10,937,500 shares of its common stock at an initial public offering price of US$12 per share. The offering consists of 5,468,750 shares of common stock being sold by JOANN and 5,468,750 shares of common stock being sold by selling stockholders, which includes entities affiliated with Leonard Green & Partners and other non-management stockholders. In addition, JOANN granted the underwriters a 30-day option to purchase up to 1,640,625 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments, if any. The shares of common stock began trading on the Nasdaq Global Market on March 12, 2021 under the ticker symbol “JOAN”. The offering is expected to close on March 16, 2021, subject to customary closing conditions.

Latham & Watkins LLP represents JOANN in the offering with a capital markets team led by New York partner Greg Rodgers and Orange County partner Drew Capurro, with Orange County associates Nicole Jazayeri, Jack Vanderford, and Nolan Fargo. Advice was also provided on corporate matters by New York partner Howard Sobel and Los Angeles partner Jason Silvera; on benefits and compensation matters by New York counsel Rifka Singer, with New York associate Alisa Hand; and on tax matters by Chicago partner Joseph Kronsnoble, with Chicago associate Chris Ohlgart.