IPOs expected to price
- Honest Company (HNST) and
- Five Star Bancorp (FSBC).
IPO quiet period expirations
UTime (NASDAQ:UTME) on May 3,
VectivBio (NASDAQ:VECT) and Reneo Pharma (NASDAQ:RPHM) on May 4.
- Gatos Silver (NYSE:GATO) on May 3. . Honest IPO preview:
The Honest Company (HNST) is looking to raise as much as $439M in an IPO next week that could give co-founder Jessica Alba a stake valued at about $96M. Honest Company sells baby products, cleaning supplies and cosmetics. The company plans to sell 6.5M shares and existing shareholders will sell 19.4M shares in an expected range of $14 to $17. At the top end of the range, Honest would have a market value of $1.54M. Selling shareholders include private equity firm L Catterton, Institutional Venture Partners, Lightspeed Venture Partners and General Catalyst. Jessica Alba doesn't plan to sell any of her shares. them in the offering, according to the filing. The Los Angeles-based company had a net loss of $14.5M on revenue of $301M in 2020, compared with a loss of $31M on revenue of $236M the previous year. HNST expects 2019-2025 compound annual growth rates in the clean-and-natural part of those businesses to hit 16% for diapers/wipes, 10% for skin/personal care and 4% for household/wellness.
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