The Michaels Companies, Inc., operates a chain of arts and crafts specialty retail stores, has announced that certain of its stockholders (the “Selling Stockholders”) intend to offer for sale 12.5 million shares of its common stock pursuant to the Company’s shelf registration statement filed with the Securities and Exchange Commission (“SEC”).
The Selling Stockholders will receive all of the net proceeds from this offering. No shares are being sold by the Company.
Goldman, Sachs & Co. will act as underwriter for the offering.
View the full release here.