NEW YORK — The White House Inc. expects to join the ranks of publicly held specialty retailers shortly.
The Glen Burnie, Md.-based retailer of black-and-white apparel for women, last week filed a Form S-1 registration statement with the Securities and Exchange Commission saying it intends to raise $50 million in an initial public offering. It plans to use $11.8 million of the net proceeds to make required distributions to common stockholders and another $1.7?million to fund capital expenditures and pay expenses incurred in connection with the planned relocation of its headquarters and distribution center. The rest of the money is expected to go toward capital expenditures and general corporate purposes, including the opening of new stores and working capital.
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