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Tailored Brands, Owner of Men's Wearhouse, Files for Nasdaq IPO
Summary
The parent company of Men's Wearhouse has filed with the SEC for an initial public offering on the Nasdaq Global Select Market under the ticker symbol 'MENW', with Goldman Sachs and Morgan Stanley as lead underwriters.
Tailored Brands, Inc., the parent company of the retail chain Men’s Wearhouse, has formally filed for an initial public offering with the U.S. Securities and Exchange Commission. The move signals the company's plan to list its common stock on the Nasdaq Global Select Market.
Filing Details
According to the registration statement, the company intends to trade under the ticker symbol MENW. The initial filing did not specify the number of shares to be offered or the anticipated price range for the IPO, which is a common practice in the early stages of the public offering process.
The offering will include shares sold by both the company and certain existing stockholders. Tailored Brands specified that it will not receive any of the proceeds from the shares being sold by these selling stockholders, indicating a component of the IPO will provide liquidity for current investors.
Underwriters and Market Context
AdA prominent group of investment banks is managing the offering, a sign of the deal's potential scale. Goldman Sachs & Co. LLC and Morgan Stanley are acting as the lead underwriters.
The broader underwriting syndicate also includes Jefferies, BofA Securities, Evercore ISI, Guggenheim Securities, Wells Fargo Securities, Baird, and Stifel, according to the filing. This lineup suggests a significant effort to attract institutional investment.
For investors, this filing is the first formal step in taking the company public. It allows for due diligence on the company's financials and operations, though key valuation metrics will only be released in subsequent amended filings.