The final offering price of $17 fell short of the company’s initial target of $17 to $19 per share. Based on the nearly 130.4 million shares outstanding following the offering, the pricing gives Bob’s Discount Furniture a market capitalization of approximately $2.22 billion. The company is scheduled to begin trading Thursday under the ticker symbol BOBS.

Ownership and Market Position

Bain Capital, the private-equity firm that acquired the retailer in 2014, will maintain a dominant position in the company. Following the IPO, Bain is expected to retain a stake of more than 70%, ensuring continued influence over the discount furniture chain’s strategic direction as it transitions to a public entity.

The debut comes as retail IPOs face a scrutinizing market environment. While the low-end pricing suggests some investor hesitation, the successful listing marks a significant milestone for the Manchester, Connecticut-based company, which has grown from a local operation into a nationwide budget home furnishings brand.