June 14, 2010 (FinancialWire) — Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ: ULTA) said it has priced an underwritten public offering of 8,976,112 shares of its common stock by certain entities and individuals associated with GRP Partners, as well as by Lyn Kirby, Ultra’s current CEO, at a price to the public of $22.25 per share. William Blair and Wells Fargo Securities (NYSE: WFC) are serving as joint-book running managers.

The underwriters have exercised their option to purchase up to an additional 1,346,417 shares from the selling stockholders to cover over-allotments at the public offering price, less the underwriting discount.

Ulta will not receive any proceeds from the offering. The offering is scheduled to close on June 16.

Illinois-based Ulta is a beauty retailer that provides prestige, mass and salon products and salon services in the United States. The company currently operates 350 retail stores across 38 states and also distributes its products through the company’s website.

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