On August 1, 2011, the Company completed an initial public offering in which 22,250,000 shares of common stock were sold at an initial public offering price of $19.00 per share. Immediately prior to the offering, each share of the Company's Class L common stock converted into 2.4338 shares of common stock.
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A clothes iron is a household appliance used to press the wrinkles out of and creases into clothes. When the iron is turned on, the consumer moves it over an item of clothing on an ironing board.