Boot Barn Holdings Inc. began trading this morning priced at $16 a share and rose 12.8% to $18 a share and a market cap of $450 million in midday trading.
Shares of the Irvine-based western apparel and footwear retailer are listed on the New York Stock Exchange under the ticker symbol “BOOT.”
In a September filing with the U.S. Securities and Exchange Commission the company said it would realize proceeds of about $67 million from the offering, which it will use to pay down debt.
Los Angeles-based private equity firm Freeman Spogli & Co. will own about 71% of Boot Barn after the IPO. It bought its stake in 2011 from Marwit Capital, a Newport Beach-based private equity firm that acquired the retailer in 2007.
Boot Barn had $281 million in sales for the year through June. It was founded in 1978
