MOSSIMO PLANS INITIAL PUBLIC OFFERING OF 2M SHARES
NEW YORK — Mossimo Inc. plans to go public.
The activewear and sportswear manufacturer, based in Irvine, Calif., will sell two million shares in the initial public offering. At a projected offering price of $14 a share, the company will take in $28 million in proceeds before underwriting costs.
In addition, Mossimo Giannulli, the company’s founder and president, plans to sell one million shares, which will yield $14 million at the projected offering price.
After the offering, the company will have 15 million shares outstanding. Proceeds will be used to reduce debt and for other general purposes, including construction of in-store shops. Merrill Lynch & Co. and Smith Barney Inc. will underwrite the offering.