Duluth Trading parent company now on Nasdaq

Last week Duluth Holdings, the parent of Duluth Trading Co., began trading on the Nasdaq Global Select.

According to the Wisconsin State Journal, the Belleville clothing company planned to offer 6,666,667 shares of its Class B common stock at an initial offering price of $12 per share. Underwriters would be able to buy up to an additional 1 million shares at the initial price.

Net proceeds to Duluth Holdings were expected to be as much as $83.7 million.

Duluth Holdings said it plans to use the funds raised to repay debt, cover general corporate expenses, and expand retail stores, the State Journal reported.