Fashion Brand Lulus Prices US$92 Million IPO
Women’s fashion brand Lulu’s Fashion Lounge Holdings, Inc. (Nasdaq: LVLU), popularly known as Lulus, started trading on the Nasdaq Global Market today while also announcing pricing for their IPO. The firm aims to raise US$92.0 million in its debut on the big board.
The offering consisted of 5.75 million common shares at US$16.00 per share, the low-end of the previously announced price range. The company’s shares will be trading on the Nasdaq exchange under the ticker symbol “LVLU”.
Goldman Sachs & Co., BofA Securities, and Jefferies are acting as joint lead bookrunners for the said offering. The underwriters have been granted a 30-day over-allotment option to purchase up to 862,500 additional common shares at the same IPO price.
The offering is expected to close on November 15, 2021, subject to customary closing conditions.
The California-based fast fashion firm claims to be “a customer-driven, digitally native women’s fashion brand” founded in 1996. It separates itself as a company that bases its designs with “the customer in mind” and is “built on customer feedback”.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
