Tilly’s, Inc. Announces Underwriters' Exercise of Over-Allotment Option

  Tilly’s, Inc. Announces Underwriters' Exercise of Over-Allotment Option

Business Wire

IRVINE, Calif. -- May 09, 2012

Tilly’s, Inc. (NYSE: TLYS) today announced that in connection with its initial
public offering, the underwriters have exercised in full their option to
purchase an additional 1,200,000 shares from certain selling shareholders to
cover over-allotments. As a result, the total initial public offering size was
9,200,000 shares, which consisted of 7,600,000 shares sold by Tilly’s, Inc.
and 1,600,000 shares sold by the selling shareholders. The 9,200,000 shares in
the offering were sold at a price to the public of $15.50 per share. Tilly’s,
Inc. did not receive any proceeds from the sale of shares by the selling
shareholders.

Goldman, Sachs & Co., BofA Merrill Lynch, and Piper Jaffray & Co. acted as
book-running managers, and William Blair & Company and Stifel Nicolaus Weisel
acted as co-managers for this offering. Latham & Watkins LLP served as legal
counsel to Tilly’s in connection with the offering.

The offering was made only by means of the written prospectus forming part of
the effective registration statement. A copy of the final prospectus may be
obtained by contacting Goldman, Sachs & Co., Prospectus Department, 200 West
Street, New York, NY 10282, telephone 1-866-471-2526, facsimile 212-902-9316,
or by emailing prospectus-ny@ny.email.gs.com; BofA Merrill Lynch, 4 World
Financial Center, New York, NY 10080, Attn: Prospectus Department, or by
emailing dg.prospectus_requests@baml.com; or Piper Jaffray & Co., Attn: Equity
Capital Markets, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, telephone
800-747-3924, or by emailing prospectus@pjc.com.

A registration statement relating to shares of Tilly’s Class A common stock
was declared effective by the U.S. Securities and Exchange Commission on May
3, 2012. This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful.

About Tilly’s

Tilly's is a fast-growing destination specialty retailer of West Coast
inspired apparel, footwear and accessories with an extensive assortment of the
most relevant and sought-after brands rooted in action sports, music, art and
fashion. Tilly’s is headquartered in Southern California and, as of April 28,
2012, operated 145 stores and through its website, www.tillys.com.

Contact:

Investor Relations:
ICR, Inc.
Anne Rakunas/Joseph Teklits
310-954-1113
anne.rakunas@icrinc.com