Savers Value Village (SVV) announced the commencement of a proposed secondary public offering of 15M shares of its common stock offered by certain funds, investment vehicles or accounts managed or advised by Ares Management LLC or its affiliates and the CEO of the company. In addition, the company has authorized the concurrent purchase from the underwriters of $20M of the shares of common stock as part of the Offering, at a price per share equal to the price per share to be paid by the underwriters to the Selling Stockholders. J.P. Morgan, Jefferies, Goldman Sachs & Co. and UBS Investment Bank are acting as the joint book-running managers and underwriters for the offering.
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