STAMFORD, Conn., June 26, 2018 (GLOBE NEWSWIRE) -- The Lovesac Company today announced the pricing of its initial
public offering of 3,500,000 shares of its common stock, at a public offering price of $16.00 per share. The Company has granted
the underwriters an option to buy up to an additional 525,000 shares of common stock. Shares of the Company's common stock are
expected to begin trading on the Nasdaq Global Market on June 27, 2018 under the ticker symbol “LOVE”. The offering is expected to
close on June 29, 2018, subject to satisfaction of customary closing conditions.
Roth Capital Partners is serving as sole book-running manager with Craig-Hallum Capital Group as co-manager for
the proposed offering.
The proposed offering will be made only by means of a prospectus. A copy of the final prospectus relating to the
proposed offering, when available, may be obtained from any of the following sources:
- Roth Capital Partners, LLC, 888 San Clemente, Newport Beach, California 92660, Attn: Equity Capital Markets, via telephone at
(800) 678-9147 or via email at rothecm@roth.com.
- Craig-Hallum Capital Group LLC at 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at (612) 334-6300,
or by email at prospectus@craig-hallum.com.
A registration statement on Form S-1, including a prospectus, which is preliminary and subject to completion,
relating to the offering has been filed with, and declared effective by, the U.S. Securities and Exchange Commission on June 26,
2018. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes
effective.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there
be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or jurisdiction.
About The Lovesac Company
Based in Stamford, Connecticut, The Lovesac Company is a direct-to-consumer specialty furniture brand with 68 retail showrooms
supporting its ecommerce delivery model. Lovesac’s name comes from its original Durafoam filled beanbags called Sacs. The company
derives a majority of its current sales from its proprietary platform called Sactionals, a washable, changeable, reconfigurable,
and FedEx-shippable solution for large upholstered seating. Founder and CEO, Shawn Nelson’s, “Designed for Life” philosophy
emphasizes sustainable products that are built to last a lifetime and designed to evolve with the customer’s needs, providing
long-term utility and ultimately reducing the amount of furniture discarded into landfills.
Cautionary Statement Concerning Forward Looking Statements
Certain statements contained in this press release constitute forward-looking statements. Management has based these
forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these
expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and
involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks
and uncertainties that may cause Lovesac’s actual results, performance or achievements to differ materially from any future
results, performance or achievements expressed or implied by these forward-looking statements.
Media Contact:
Jim Furrer, ICR
(203) 682-8200
Jim.Furrer@icrinc.com
Investor Relations Contacts:
Rachel Schacter, ICR
(203) 682-8200
InvestorRelations@lovesac.com
