Levi Strauss & Co. Announces Launch of Initial Public Offering

SAN FRANCISCO--(BUSINESS WIRE)--Levi Strauss & Co. (LS&Co.) today announced that it has commenced an initial public offering (IPO) of 36,666,667 shares of its Class A common stock. The company is offering 9,466,557 shares of Class A common stock and selling stockholders are offering 27,200,110 shares of Class A common stock. The underwriters will have a 30-day option to buy an additional 5,500,000 shares of Class A common stock from the company at the IPO price, less underwriting discounts and commissions. The IPO price is currently expected to be between $14.00 and $16.00 per share. LS&Co. has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol “LEVI.”

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC will serve as joint lead book-running managers for the offering. BofA Merrill Lynch, Morgan Stanley & Co. LLC and Evercore Group L.L.C. will serve as book-running managers. BNP Paribas Securities Corp., Citigroup, Guggenheim Securities, LLC, HSBC Securities (USA) Inc., Drexel Hamilton, LLC, Telsey Advisory Group, and The Williams Capital Group, L.P. will serve as co-managers.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained from Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, by email at [e-mail], or by telephone at [phone]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at [e-mail], or by telephone at [phone]; BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at [e-mail]; Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or Evercore Group L.L.C., Attn: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, New York 10055, by email at [e-mail], or by telephone at [phone].

A registration statement relating to these securities has been filed with the U. S. 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 shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall 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.

Forward Looking Statements

This press release includes “forward looking information,” including with respect to the initial public offering. These statements are made through the use of words or phrases such as “will” or “expect” and similar words and expressions of the future. Forward-looking statements involve known and unknown risks, uncertainties and assumptions, including the risks outlined under “Risk Factors” in the preliminary prospectus and elsewhere in the Company’s filings with the SEC, which may cause actual results to differ materially from any results expressed or implied by any forward-looking statement. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it cannot guarantee future results. The Company has no obligation, and does not undertake any obligation, to update or revise any forward-looking statement made in this press release to reflect changes since the date of this press release, except as required by law.

About Levi Strauss & Co.

Levi Strauss & Co. designs and markets jeans, casual wear and related accessories for men, women and children under the Levi's®, Dockers®, Signature by Levi Strauss & Co.™, and Denizen® brands. Its products are sold in more than 110 countries worldwide through a combination of chain retailers, department stores, online sites, and a global footprint of approximately 3,000 brand-dedicated retail stores and shop-in-shops.