NEW YORK — Shares of Tumi Holdings Inc. fell 3.3 percent after investors began digesting information from a regulatory filing that some shareholders plan to hold a secondary offering.
According to a registration statement, or Form S-1, filed with the Securities and Exchange Commission Tuesday, slightly more than 11.6 million shares are being sold at a proposed offering price of $22.87, with a maximum aggregate price range of $265.6 million. The 11.6 million shares include 10.1 million shares of common stock from the selling stockholders plus an option for the underwriters to purchase an additional 1.5 million shares.
The selling stockholders will receive the proceeds from the stock sale, not the company. Among the selling shareholders are chief executive officer Jerome Griffith, chief financial officer Michael Mardy and Doughty Hanson, a fund that owned the company before its April initial public offering and which still owns a majority stake in Tumi.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)