Benzinga | Nov 4, 2021 05:59AM EDT

Arhaus Prices IPO At $13/Share, Below Expected Range

* Home furnishings retailer Arhaus Inc (NASDAQ:ARHS) has priced its initial public offering (IPO) of 12.9 million shares at $13.00 per share.

* The company had expected to price the IPO at $14 -$17 earlier.

* The underwriters will have a 30-day option to purchase up to an additional 1.9 million shares from the company.

* The shares are expected to begin trading on the Nasdaq Global Select Market on Thursday, November 4, 2021, under the ticker symbol "ARHS."

* The offering is expected to close on November 8, 2021, subject to customary closing conditions.

* BofA Securities and Jefferies LLC are acting as joint lead book-running managers and as representatives for the proposed offering.