Teavana Holdings, Inc. Announces Pricing of its Initial Public Offering

Teavana Holdings, Inc. (Teavana) today announced the pricing of its initial public offering of 7,142,858 shares of common stock at a price of $17.00 per share. The shares will be listed on the NYSE and will trade under the symbol “TEA” beginning July 28, 2011. Teavana Holdings, Inc. is offering 1,071,429 shares of common stock and selling stockholders are offering 6,071,429 shares of common stock. The underwriters have an option to purchase up to an additional 1,071,429 shares from certain selling stockholders to cover overallotments, if any. Teavana Holdings, Inc. will not receive any proceeds from the sale of shares by the selling stockholders.

The Company expects to receive proceeds, net of underwriter’s discount and commissions and estimated offering expenses payable by the Company, of approximately $15.0 million from the offering and intends to use the net proceeds to redeem all outstanding shares of its Series A redeemable preferred stock and to repay all outstanding indebtedness under its revolving credit facility.

The offering is being made only by means of the written prospectus forming part of the effective registration statement. A copy of the final prospectus related to the offering may be obtained by contacting BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department, or by emailing dg.prospectus_requests@baml.com; and from 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.

A registration statement relating to shares of the common stock of Teavana Holdings, Inc. has been declared effective by the Securities and Exchange Commission on July 27, 2011. 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 Teavana:

Teavana is a specialty retailer offering more than 100 varieties of premium loose-leaf teas, authentic artisanal teawares and other tea-related merchandise through 161 company-owned stores in 35 states and on its website. The company offers new tea enthusiasts and tea connoisseurs alike its “Heaven of Tea” retail experience where passionate and knowledgeable “teaolgists” engage and educate them about the ritual and enjoyment of tea. The company’s mission is to establish Teavana as the most recognized and respected brand in the tea industry by expanding the culture of tea across the world.

SOURCE: Teavana Holdings, Inc.