David’s Bridal Inc. –

ARDMORE, Pa. – David’s Bridal Inc., a retailer of wedding gowns and formal wear for women and girls, held an initial public offering May 21. The company offered 8 million shares of common stock at $13 apiece, pricing below the company’s $14.50 to $16.50 filing range.

Monitor Clipper Partners Inc. was a venture backer and offered 2.4 million shares of stock during the offering.

Donaldson, Lufkin & Jenrette and Legg Mason Wood Walker Inc. underwrote the offering worth an estimated $104 million.

David’s Bridal owns, operates and manages 86 stores that sell wedding gowns, bridesmaid dresses and special occasion apparel in 32 states. The company designs most of its bridal dresses through a joint venture with a manufacturer in Hong Kong. David’s Bridal has entered into leasing agreements to open eight new stores.

Proceeds from the offering will be used for general corporate purposes. The company has never paid cash dividends.

Robert Calhoun Jr., founder and managing director of Monitor Clipper, joined the company’s board of directors in July 1995.

David’s Bridal Inc. – Selected Financial

(in thousands, except per share data )

Fiscal Year Thirteen Weeks Ended

1994 1995 1996 1997 1998 April 4, 1998 April 3, 1999

Total revenue 28,854 48,087 67,024 91,609 132,602 37,597 56,804

Net income (loss) 1,107 700 -515 2,480 5,755 2,823 4,570

Net loss per share 0.08 0.06 -0.05 0.25 0.59 0.29 0.47