Investors in Costa Mesa-based clothing designer Volcom Inc. plan to sell 5 million shares of the company, which went public earlier this year.
Volcom didn’t say who is selling the shares in an initial filing with the Securities and Exchange Commission.
Chief Executive Richard Woolcott, former homebuilder James M. Peters Jr. and Ren & #233; R. Woolcott, Volcom’s chairman and father of Richard Woolcott, are the company’s largest shareholders at about 20% each.
Volcom isn’t issuing any new stock in the offering.
Wachovia Securities is serving as underwriter for the offering by the shareholders. D.A. Davidson & Co. and Piper Jaffray Cos. are co-managers.
Volcom raised $80 million in its initial public offering in early July. The sale made multimillionaires of Chief Executive Woolcott and his father.
The offering wasn’t the largest in Orange County in 2005: Subprime mortgage lender ECC Capital Corp. raised $390 million earlier in the year.
But Volcom has been the highest-profile offering here this year, gaining attention for its first-day gain of 40%. As of last week, Volcom shares were off slightly from their high for the year with a market value of nearly $800 million.
Volcom designs edgy clothes for surfers, skaters and wannabes.
