Michaels: Offering Of 18.80 Mln Shares By Some Stockholders Priced At $23.52/shr

(RTTNews) - The Michaels Companies, Inc. (MIK), a specialty retailer of arts and crafts, Thursday announced the pricing of an underwritten public offering of 18.8 million shares of its common stock by certain of its stockholders at a price of $23.52 per share.

Additionally, the selling stockholders granted the underwriters a 30-day option to purchase up to an additional 2.82 million shares of common stock.

The selling stockholders will receive all net proceeds from this offering, and no shares are being sold by the company.

J.P. Morgan and Goldman, Sachs & Co. are acting as joint book-running managers and as representatives of the underwriters in the offering.

Barclays, Deutsche Bank Securities, BofA Merrill Lynch, Credit Suisse, Morgan Stanley, Wells Fargo Securities, Guggenheim Securities and Macquarie Capital are also acting as joint book-running managers of the offering .

Nomura, Piper Jaffray, Raymond James, Stephens Inc., SunTrust Robinson Humphrey, Ramirez & Co, Inc., Telsey Advisory Group and The Williams Capital Group, L.P. are acting as co-managers.