Restoration Hardware Files for $150M I.P.O.

Restoration Hardware Holdings Inc. filed with regulators Friday to raise up to $150 million in an initial public offering, Reuters reported. In November 2007, Restoration Hardware had agreed to be taken private in a transaction led by CEO Gary Friedman and private-equity firm Catterton. The home furnishings retailer will use the proceeds primarily to repay debt.

(Reuters) – U.S. furniture retailer, Restoration Hardware Holdings Inc, filed with U.S. regulators on Friday to raise up to $150 million in an initial public offering of its common stock.

A source close to the company had told Reuters a year ago that the company would raise about $300 million in an IPO in the first half of this year.

In November 2007, Restoration Hardware had agreed to be taken private in a transaction led by CEO Gary Friedman and private-equity firm Catterton.

The retailer, which sells furniture, bath linens, lighting fixtures and other items for homes, said it plans to use proceeds from its IPO mainly to repay debt.

BofA Merrill Lynch and Goldman Sachs are the lead underwriters for the offering, the company said in a filing with the U.S. Securities and Exchange Commission.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO can be different. (Reporting by Aditi Sharma in Bangalore; Editing by Sayantani Ghosh)