Games retailer Electronics Boutique Holding Corp. on Tuesday filed an initial public offering with the Securities and Exchange Commission. The company is hoping to sell up to 7.5 million shares of stock at an initial offering price between US$15 and $17, Reuters reported.
Half of the shares will come from the West Chester, Pennsylvania, company, while the other 3.75 million shares will be sold by the company's chairman, James Kim, and his wife.
Electronics Boutique said it will use the hoped-for $55 million in net proceeds from the sale of its shares to "fund an S corporation to the Kims, repay certain outstanding debt, and for general corporate purposes, including financing new store openings," according to Reuters.
Electronics Boutique has applied to trade on the Nasdaq exchange under the symbol ELBO.
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