July 09, 2021
Torrid Holdings Inc., a direct-to-consumer brand of apparel, intimates and accessories, closed on July 6, 2021 its initial public offering of 11.0 million shares of its common stock sold by certain of Torrid’s existing shareholders at a price of US$21 per share. In addition, the selling shareholders granted the underwriters a 30-day option to buy an additional 1.65 million shares of common stock from such selling shareholders at the initial public offering price, less the underwriting discount and commissions. The shares began trading on the New York Stock Exchange on July 1, 2021, under the ticker symbol “CURV”.
Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partners Michael Benjamin and Stelios Saffos, with associates Will Clark and Ian Lachow. Advice was also provided on tax matters by New York partner Matthew Dewitz, with associate Michael Yu; and on benefits and compensation matters by New York partner Austin Ozawa, with associate Dan Gocek.