Yemen's Houthi rebels have claimed responsibility for the attacks, which created a huge fire at a processor essential to global energy supplies.Politicsread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Trailers have become a cult phenomenon. Even short teasers that reveal little about the plot of the upcoming film are headline-worthy. Blogs and forums have become devoted...Entertainmentread more
Thanks to the performance of Beyond Meat, investors who focus on venture-backed tech IPOs have done well this year despite some notable disappointments.Technologyread more
Software company Intuit, maker of tax helper TurboTax, is in its eleventh year of stock gains and up 36% this year.Investingread more
CNBC did a deep dive through the most recent Wall Street research to find stocks with upside potential.Marketsread more
The benchmark 10-year Treasury note yield tested 1.5% in late August and early September, bouncing off that level and most recently trading around 1.8%. However, another...Marketsread more
Michaels said on Thursday it had raised about $472.6 million in its initial public offering after pricing shares at $17, the lower end of an expected range.
The $17 per share price values the arts and crafts retailer at up to $3.45 billion.
Michaels' IPO said it had sold all 27.8 million shares on offer, as it priced at the lower end of the expected range of $17 to $19 per share.
Michaels, which owns several private brands such as Recollections, Artist's Loft and Loops & Threads, competes with Hobby Lobby Stores, Jo-Ann Stores, and Wal-Mart Stores.
Michaels, the largest arts and crafts specialty retailer in North America, sells scrapbooking and papercraft supplies, apparel and framing accessories, kids clothing, home and ceremony decor.
The retailer, with more than 1,200 stores and about $4.6 billion in sales in fiscal 2013, also offers customized invitation cards and courses in baking, and beading and jewelry making.
Michaels reported a rise of 9 percent in net sales to $4.57 billion between 2011-2013. Net income rose 55 percent to $243 million during the same period.
Michaels, which was taken private by Blackstone Group and Bain Capital for $6 billion in 2006, filed for an IPO of up to $500 million in March 2012.
That, however, was postponed after then-Chief Executive John Menzer had a stroke and stepped down.
Bain Capital and Blackstone currently own 93 percent of the company as Michaels Holdings, which was formed following the reorganization of Michaels into a holding company structure in July 2013.
The two private equity firms will own about 80 percent of the company after the IPO, if underwriters do not exercise their option.
Michaels said in April it was hit by a security breach of customer payment cards and about 400,000 cards were potentially affected by the breach, which occurred between June 26, 2013, and February 27, 2014.
Michaels, which has about $3.7 billion in debt as of May, said it plans to use the proceeds from the offering to redeem $466 million of Holdco notes, issued in July 2013.
The company is expected to debut on the Nasdaq on Friday under the symbol "MIK."