Bluestem Brands is seeking to raise around $150 million through an initial public offering (IPO), Reuters reports. The U.S. online and catalogue retail service provider will use the proceeds from the offering primarily to repay its debt.

It has not disclosed any details on the number of shares to be sold or their expected price. Deutsche Bank Securities, Piper Jaffray, Oppenheimer & Company and William Blair & Company are the underwriters of the IPO.

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