Lisa Harper, the Chief Executive Officer of Torrid Holdings Inc. (NYSE:CURV), has sold a total of $283,909 worth of company stock, according to a recent filing with the Securities and Exchange Commission. The transaction involved the sale of 74,713 shares at a price of $3.80 each. This sale was executed on September 19, 2024, and was associated with the exercise of the underwriters’ option to purchase additional shares in a registered public offering.
The sale at $3.80 per share reflects the net price after accounting for the underwriting discount. Following this transaction, Harper’s remaining stake in Torrid Holdings consists of 5,521,601 shares of common stock, indicating a continued significant investment in the company’s future.
Torrid Holdings, known for its retail apparel and accessory stores, has its shares publicly traded under the ticker CURV. The sale by the CEO represents a notable change in her investment in the company, and could be of interest to investors following Torrid Holdings’ stock performance and executive movements.
Investors and market watchers often pay close attention to insider transactions such as these, as they can provide insights into executives’ perspectives on the company’s valuation and future prospects. However, it’s important to note that such sales can be motivated by a variety of personal financial planning reasons and do not necessarily indicate a lack of confidence in the company.
The detailed information regarding the sale has been made available in the public domain through the SEC’s filing system, providing transparency and allowing shareholders and potential investors to stay informed about significant insider trades at Torrid Holdings.
In other recent news, Torrid Holdings Inc. has announced the pricing of its underwritten public offering of 8 million shares at $4.00 per share. These shares are being sold by certain stockholders, with the transaction expected to close around September 13, 2024. The company, however, will not receive any proceeds from this offering. The offering is managed by BofA Securities, Goldman Sachs & Co. LLC, Jefferies, and William Blair, with Telsey Advisory Group serving as the co-manager.
In the company’s Q2 2024 financial results, Torrid reported net sales of $285 million and an adjusted EBITDA of $35 million, indicating a significant 12.2% expansion as a percentage of net sales. As part of its ongoing strategy, Torrid is focusing on product expansion and customer growth,…
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