Restoration Hardware raises about $123.9M from IPO

Associated Press Published: November 2, 2012
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CORTE MADERA, Calif. (AP) — Restoration Hardware has raised approximately $123.9 million from its initial public offering of about 5.2 million shares.

The home decor retailer priced the stock at $24 per share.

Restoration Hardware is offering about 4.8 million shares and the selling stockholders are offering 381,723 shares. The underwriters also have an option to buy up to an additional 774,650 shares from certain selling stockholders.

Chairman and co-CEO Gary Friedman resigned from his posts with the company in August. The New York Times reported at the time that the resignation followed an internal investigation into his relationship with a female employee. Calls for comment on that report went unanswered.

Shares of Restoration Hardware Holdings Inc., which is based in Corte Madera, Calif., are expected to start trading on the New York Stock Exchange on Friday under the "RH" ticker symbol.