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Turning Point Brands prices IPO at $10, below the range

May 11, 2016
TPB

Turning Point Brands, which sells tobacco-related products in the US under the Zig-Zag and Stoker's brands, raised $54 million by offering 5.4 million shares at $10, below the range of $13 to $15. Turning Point Brands plans to list on the NYSE under the symbol TPB. Cowen & Company and FBR Capital Markets acted as lead managers on the deal.