Shares of National Vision Holdings Inc. debuted on the Nasdaq at $28.75 at 11:05 a.m. ET, or 31% above their initial public offering price of $22. The stock was recently changing hands at $28.00, and has traded in a range of $27.66 to $29.10 since its debut. The optical retail company had priced its IPO late Wednesday, above the expected range of $18 to $20. The company offered 15.8 million shares for sale, to raise $347.6 million. National Vision plans to use the proceeds to repay debt and for general corporate purposes, which includes the payment of interest on term loans. BofA Merrill Lynch, Goldman Sachs, Citigroup and KKR Capital acted at joint bookrunning managers. National Vision has gone public at a time the SPDR S&P Retail ETF has slipped 0.4% over the past three months, while the S&P 500 has gained 3.5%.
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