Whole-body wellness enterprise The Better Being Co. announced today the launch of its initial public offering, seeking to raise as much as US$212.5 million. The company is slated to publicly trade on the New York Stock Exchange under the symbol “BBCO”.
The offering will be conducted through the issuance of 12,500,000 common shares with an expected offering price between US$15.00 and US$17.00 per share.
The company also plans to grant the underwriters a 30-day over-allotment option to purchase additional 1,875,000 common shares from its principal stockholders at the same IPO price. Goldman Sachs & Co., Credit Suisse Securities (USA), and Jefferies LLC are all acting as lead underwriters for the said offering.
The Utah-based enterprise is currently conducting business as Nutraceutical International and plans to change its name to The Better Being Co. prior to the IPO. The company was previously listed publicly until it was taken private by equity firm HGGC in a US$446 million acquisition deal.
The Better Being Co. reported US$344 million in sales for the fiscal year ending March 31, 2021.
Information for this briefing was found via Sedar and The Better Being Co. 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.