Reformation Prices IPO at $15/Share, Trading Starts Tomorrow on NYSE
Summary
Reformation priced its IPO at $15.00 per share, the midpoint of the expected range, raising approximately $142 million in primary proceeds and $211 million in total proceeds. The offering includes 9.5 million new shares and 4.6 million from selling stockholders, with a 30-day greenshoe option for an additional 2.1 million shares. Trading begins July 30 on the NYSE under ticker REF, with closing expected July 31. The pricing sets a valuation around $1.1 billion, a significant milestone for the sustainable womenswear brand. With 70 stores and a growing e-commerce presence, the IPO provides capital for expansion and liquidity for early investors. The deal is led by J.P. Morgan and Morgan Stanley, signaling strong institutional support.
This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.