DULUTH, Ga., October 16, 2017 — National Vision Holdings, Inc. (“National Vision”) today announced the launch of its initial public offering of 15,800,000 shares of its common stock. The initial public offering price is expected to be between $18 and $20 per share. National Vision expects to grant the underwriters a 30-day option to purchase up to an additional 2,370,000 shares of its common stock to cover over-allotments, if any. National Vision has applied to have its common stock approved for listing on the NASDAQ Global Select Market under the symbol “EYE.”
National Vision intends to use the net proceeds from the offering: first, to repay all $125.0 million outstanding aggregate amount of its second lien term loans; and second, to repay approximately $150.0 million of the outstanding amount of its first lien term loans.
BofA Merrill Lynch, Goldman Sachs & Co. LLC, Citigroup and KKR Capital Markets are acting as joint bookrunning managers for the proposed offering, and Morgan Stanley, Jefferies, UBS Investment Bank and Wells Fargo Securities are also acting as bookrunners for the proposed offering. Guggenheim Securities, Mizuho Securities and Macquarie Capital are acting as co-managers for the proposed offering.
A registration statement, including a prospectus, which is preliminary and subject to completion, relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”), but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time that the registration statement becomes effective, and, even then, the securities may only be sold pursuant to the registration statement and final prospectus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering of these securities will be made only by means of a prospectus. Copies of the preliminary prospectus may be obtained from BofA Merrill Lynch, Attn: Prospectus Department at NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, or by email at email@example.com; Goldman Sachs & Co. LLC, Prospectus Department at 200 West Street, New York, NY 10282 or by telephone at 1-866-471-2526 or by facsimile at 212-902-9316, or by email at firstname.lastname@example.org; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-800-831-9146.
About National Vision
National Vision is one of the largest optical retail companies in the United States with 996 retail stores and 19 consumer websites as of September 30, 2017. National Vision offers a variety of products and services for customers’ eye care needs through five brands: America’s Best Contacts & Eyeglasses, Eyeglass World, Vision Centers inside select Walmart stores, and Vista Optical locations inside Fred Meyer stores and on select military bases.
Forward Looking Statements
This press release includes certain disclosures which contain “forward-looking statements.” You can identify forward-looking statements because they contain words such as “believes” and “expects.” Forward-looking statements are based on National Vision’s current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in National Vision’s filings with the SEC, including its registration statement on Form S-1, as amended from time to time, under the caption “Risk Factors.” Any forward-looking statement in this release speaks only as of the date of this release. National Vision undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
National Vision Holdings, Inc.
Kristina Gross, Director of Communications
David Mann, Vice President of Investor Relations