J.Jill announces stock offering plan

Women’s apparel brand J.Jill has announced a proposed offering of 2,000,000 shares of its common stock at a price of 31 dollars per share.

J.Jill is offering 1,000,000 shares and an affiliate of TowerBrook Capital Partners, the company’s largest stockholder, is offering 1,000,000 shares. The offering is expected to close on June 14, 2024.

The company said in a release that the gross proceeds to J.Jill from the offering are expected to be 31 million dollars. J.Jill intends to use the net proceeds from its sale of shares for repayment of its debt and general corporate purposes.

The company added that Jefferies, William Blair and TD Cowen are acting as joint book-running managers for the offering, BTIG is acting as a bookrunner for the offering and Telsey Advisory Group is acting as a co-manager for the offering.