Benzinga | Nov 9, 2021 11:06AM EST

European Wax Center reports Launch Of ~5.2M Share Common Stock Offering, Including ~2.9M Shares Via Selling Shareholders

European Wax Center, Inc. ("EWC" or the "Company") (NASDAQ:EWCZ), the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States, today announced the commencement of a proposed public offering of 5,216,977 shares of its Class A common stock, including 2,851,617 shares of Class A common stock offered by certain selling stockholders affiliated with General Atlantic, L.P. (the "Selling Stockholders"). EWC and the Selling Stockholders also intend to grant the underwriters a 30-day option to purchase up to an additional 782,547 shares of Class A common stock.

EWC intends to use the net proceeds from the offering to purchase an equivalent number of non-voting common units in EWC Ventures, LLC and corresponding shares of the Company's Class B common stock. The Selling Stockholders will receive all of the net proceeds from the sale of shares of Class A common stock sold by them in the offering. The Company will retain no net proceeds from the offering.

Morgan Stanley, BofA Securities and Jefferies are acting as the joint book-running managers and underwriters for the offering.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to this offering, when available, may be obtained from the following sources: c/o Computershare Trust Company, N.A., 150 Royall Street, Canton, MA 02021, or by telephone at 781 575 2000; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, 10014; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28555, Attention: Prospectus Department or by email at dg.prospectus_requests@bofa.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, by telephone at (877) 821-7388 or by email at prospectus_department@jefferies.com.

A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.