THINKING: Press Releases

Grocery Outlet Holdings IPO Prices for a $2.07 Billion Valuation

Penserra participated as a co-manager in the initial public offering of Grocery Outlet Holding Corporation (Grocery Outlet), an Emeryville, CA-based high growth, extreme value retailer of quality, name-brand consumables and fresh products sold through a network of independently operated stores. The offering of 17,187,500 shares was priced at $22.00 per share, above its price range of $18-$19, giving the company a market capitalization of $2.07 billion. Common stock shares trading under the symbol “GO” began trading on the Nasdaq Global Select Market on June 20, 2019 and closed at $28.51, an increase of 29.6%.

The Grocery Outlet IPO represents Penserra’s third equity capital markets transaction for 2019. Penserra also participated as a co-manager in the $2.34 billion Lyft IPO transaction and in the selling group in the $1.02 billion Chewy IPO.