Sprouts Farmers Market IPO officialSprouts Farmers Market IPO official

Sprouts Farmers Market has announced a $247.6 million initial public offering, according to the Phoenix Business Journal. No date has been set.

The business newspaper reported:

The Phoenix-based grocery chain estimates an IPO price of between $14 and $16 a share, or roughly $246.5 million in proceeds. According to filings with the Securities and Exchange Commission, Sprouts plans to use proceeds from the IPO to pay off outstanding debt, as well as any remaining funds for general corporate purpose.

Read Sprouts IPO document and full prospectus here.