Duluth Trading Co. to issue stock offering
Belleville-based Duluth Trading Co., has applied for an initial public offering of common stock with the U.S. Securities and Exchange Commission.
Duluth Holdings Inc., which does business as Duluth Trading Co., filed a registration statement for an offering of Class B common stock and is seeking to list its stock on the Nasdaq Global Select Market under the symbol DLTH.
According to the filing, the company will use the profits from the stock offering to fund growth initiatives and other general corporate purposes, possibly including $10 million to $11 million for new retail store expansion. An additional $4 million to $6 million could be allocated for infrastructure expenditures.
Duluth did not disclose the number of shares it intends to sell or the expected proceeds from the offering.