Finance History | Nasdaq MarketSite — Twenty Dollars for Two Point Two Million Farm-Store Shares Called TSCO
· 1994-2
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Finance History | Nasdaq MarketSite — Twenty Dollars for Two Point Two Million Farm-Store Shares Called TSCO
kevin
People treat Tractor Supply as a Brentwood rural-retail house that always printed TSCO after a finished Nasdaq book.
The present letters arrived as a second public life.
Company histories record that TSC Industries had listed on the New York Stock Exchange in 1958, later went private, and changed its name back to Tractor Supply Company before the 1990s expansion.
Tractor Supply's own investor FAQ records that the company went public on 17 February 1994 and lists on the Nasdaq Global Select Market under TSCO.
A company release dated 19 February 2014, marking twenty years on Nasdaq, repeats that the initial public offering was 17 February 1994, when the chain had 165 stores in 22 states and about 330 million dollars of annual sales in that era's currency.
The company's 1996 Form 10-K records a slightly later settlement date: on 25 February 1994 the company sold 2,200,000 common shares at an initial offering price of 20.00 dollars per share in 1994 currency and received net proceeds of about 39.8 million dollars.
Those proceeds retired the old Boston revolving credit, mortgage notes on 34 stores, and a small block of subordinated notes.
The mechanism is a primary cash offering that refinanced a private rural chain onto an electronic tape, not a merger that retired another listed symbol.
Nasdaq MarketSite at 4 Times Square opened in 2000, six years after this print. The pin is that public facade, the later face of the market that took the 1994 order. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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