(RTTNews) – (Adds Share movement)
Shares of Lulu’s Fashion Lounge Holdings, Inc. (LVLU), an online retailer of women’s apparel, footwear, and accessories, were rising more than 37 percent in overnight trading following the news that the company is exploring strategic alternatives.
The stock was trading up $3.11 to trade at $11.43 in overnight trading on the Nasdaq.
The Board formed a special committee of independent directors to evaluate strategic alternatives. “These alternatives may include a possible transaction involving the company, as well as continued execution of the company’s standalone strategic plan,” the company said in a statement.
The special committee has retained Solomon Partners as its financial advisor and Willkie Farr & Gallagher LLP as its legal advisor to assist the strategic review.
