DAVIDsTEA prices $96.9 million initial public offering of common stock

Underwriting group led by Goldman Sachs, JPMorgan, BofA Merrill Lynch

By Angela McDaniels

Tacoma, Wash., June 4 – DAVIDsTEA, Inc. said it sold 5.1 million shares of common stock in its initial public offering for $19.00 each for a total of $96.9 million. The deal has a $14.54 million greenshoe.

The underwriting group is led by Goldman Sachs & Co., J.P. Morgan Securities LLC and BofA Merrill Lynch, according to a company news release.

The company expects its shares to begin trading on the Nasdaq Global Market on June 5 under the ticker symbol "DTEA.”

DAVIDsTEA is a tea company based in Montreal.

Issuer:	DAVIDsTEA, Inc.
Issue:	Common stock
Amount:	$96.9 million, or 5.1 million shares
Greenshoe:	$14,535,000, or 765,000 shares
Price:	$19.00
Warrants:	No
Lead agents:	Goldman Sachs & Co., J.P. Morgan Securities LLC and BofA Merrill Lynch
Co-managers:	BMO Capital Markets Corp. and William Blair & Co., LLC
Pricing date:	June 4
Settlement date:	June 5
Expected listing:	Nasdaq: DTEA

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