When National Vision Went Public: A Milestone Achievement

National Vision

National Vision Holdings, Inc. made a significant announcement on October 25, 2017. After careful preparation and anticipation, the company successfully priced its initial public offering of 15,800,000 shares of common stock at $22.00 per share. This move marked a turning point in the company’s history, as it transitioned from a private entity to a publicly traded company.

A New Era Begins

NASDAQ

As the NASDAQ Global Select Market welcomed National Vision’s common stock on October 26, 2017, with the trading symbol “EYE,” the world witnessed the company’s bold step into the public realm. National Vision had established itself as one of the largest optical retail companies in the United States, with 996 retail stores and 19 consumer websites as of September 30, 2017. The company’s reputation and expertise in the industry positioned them for success as a publicly traded entity.

Advancing Eyecare Solutions

National Vision offers a wide range of products and services through its five distinct brands: America’s Best Contacts & Eyeglasses, Eyeglass World, Vision Centers inside select Walmart stores, and Vista Optical locations inside Fred Meyer stores and select military bases. With a commitment to providing exceptional eyecare solutions, National Vision continues to revolutionize the optical retail landscape.

The Journey Ahead

Growth

By entering the public market, National Vision received net proceeds of approximately $322.4 million after deducting underwriting discounts, commissions, and estimated offering expenses. These funds enabled the company to take strategic actions to enhance its business operations. National Vision’s primary plan was to utilize the net proceeds to repay outstanding term loans, strengthening its financial position. The company had a clear vision for the future, with a focus on general corporate purposes and the payment of interest on the term loans.

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An Admirable Team Effort

Teamwork

To ensure a seamless transition into the public market, National Vision enlisted the support of esteemed financial institutions. BofA Merrill Lynch, Goldman Sachs & Co. LLC, Citigroup, and KKR Capital Markets served as the joint bookrunning managers for the offering. Additionally, Morgan Stanley, Jefferies, UBS Investment Bank, and Wells Fargo Securities acted as bookrunners for the offering, while Guggenheim Securities, Mizuho Securities, and Macquarie Capital were the co-managers.

Looking Ahead with Confidence

Optical Retail

As National Vision embraced its new status as a publicly traded company, the future held great promise. The company’s commitment to excellence, innovation, and customer satisfaction positioned them as a leading force in the optical retail industry. With a strong foundation of expertise, authoritativeness, trustworthiness, and experience, National Vision aimed to further expand its reach and deliver exceptional eyecare solutions to even more customers.

To learn more about National Vision and its journey to becoming a publicly traded company, visit 5 WS.

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