Michaels Crafts a $500 Million IPO

The Michaels Companies, owner of the eponymous arts-and-crafts retail chain Michaels as well as framing chain Aaron Brothers, said in a filing Monday that it plans to return to the market sometime this year, and in doing so, will raise a half-a-billion dollars. In an updated SEC filing, the nation's largest seller of arts-and-crafts goods said that it plans to raise $500 million by offering 27.8 million shares at a price range of $17 to $19.