OroAmerica Issues Initial Public Stock Offering
OroAmerica Inc., a Burbank jewelry maker, went public in an initial stock offering last week that it hoped would net the company $21.6 million after expenses.
In the offering, OroAmerica planned to sell 2,250,000 shares of its common stock at an initial offering price of $12 a share. The company said some of its current stockholders would sell an additional 250,000 common shares.
A current OroAmerica stockholder has also given the underwriters of the offering, Sutro & Co. and The Seidler Companies Inc., an option to purchase up to 337,500 additional common shares.
OroAmerica, which manufacturers gold jewelry sold primarily through discount stores and home-shopping networks, said it will use the offering proceeds to repay debt.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
