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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Although the term armlet may be technically similar, it is taken to mean an item that sits on the upper shoulder: an arm ring. The origin of the term 'bracelet' is from the Greek 'brachile' meaning 'of the arm', via the Old French 'bracel'. A bracelet is also a small brace or bracer (an arm-guard used by archers).