Symbol - "FIVE" - 9.6M shares at $12-14 --> $125M deal, 50% primary, 50% secondary shares

UPDATE: Looks like the price range is being raised to $15-17. Kind of ironic given their business mode...

Books: Goldman, Barclays Jefferies | Cover: Credit Suisse, Deutsche Bank, UBS, Wells Fargo

Basically a discount retailer with "fun things" that are "trend right" and targeted to the teen demographic - all priced cheap. Basically this hits a sweet spot for the 12-17 year old part of the market. Parents also appreciate the low prices and the fact that the kids are happy with the merchandise.

Kind of a Target + Old Navy + Tilly's/Newbury Comics/Spencer Gifts + Dollar Stores concept.

Company now has 215 stores in the Eastern US averaging 7,500 square feet. Model works in moderate rent locations and the company seems a potential for 2,000 US stores. Opening about 50-60 stores per year. They may not be pretty but they are profitable. 

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