Michaels Companies Prices IPO At Low End Of Range

(RTTNews) - Michaels Companies, Inc. said Thursday that it has priced its initial public offering of about 27.8 million shares of its common stock at a price to the public of $17.00 per share, which is at the low end of its previously estimated range of $17.00 to $19.00 per share.

The shares will be listed on the NASDAQ Global Select Market and will trade under the ticker symbol "MIK" beginning on June 27.

The company is offering all about 27.8 million share of common stock. In addition, certain selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 4,166,667 shares of common stock.