KKR-backed National Vision Sets IPO Pricing Terms


National Vision Holdings, Inc. announced the launch of its initial public offering of 15,800,000 shares of its common stock. The initial public offering price is expected to be between $18 and $20 per share. National Vision expects to grant the underwriters a 30-day option to purchase up to an additional 2,370,000 shares of its common stock to cover over-allotments, if any. National Vision has applied to have its common stock approved for listing on the NASDAQ Global Select Market under the symbol “EYE.”

National Vision intends to use the net proceeds from the offering: first, to repay all $125.0 million outstanding aggregate amount of its second lien term loans; and second, to repay approximately $150.0 million of the outstanding amount of its first lien term loans.

BofA Merrill Lynch, Goldman Sachs & Co. LLC, Citigroup and KKR Capital Markets are acting as joint bookrunning managers for the proposed offering, and Morgan Stanley, Jefferies, UBS Investment Bank and Wells Fargo Securities are also acting as bookrunners for the proposed offering. Guggenheim Securities, Mizuho Securities and Macquarie Capital are acting as co-managers for the proposed offering.

About National Vision

National Vision is one of the largest optical retail companies in the United States with 996 retail stores and 19 consumer websites as of September 30, 2017. National Vision offers a variety of products and services for customers’ eye care needs through five brands: America’s Best Contacts & Eyeglasses, Eyeglass World, Vision Centers inside select Walmart stores, and Vista Optical locations inside Fred Meyer stores and on select military bases.

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