WASHINGTON (dpa-AFX) - On Monday, Reformation Inc., a womenswear brand, announced the launch of its initial public offering of 14.06 million shares of its common stock. The pricing of the offering is expected to be between $15.00 and $17.00 per share.
In the planned IPO, Reformation is offering around 9.48 million shares, while certain of its existing stockholders are offering around 4.58 million shares of common stock.
Additionally, the company is offering underwriters a 30-day option to purchase up to an additional 2.10 million shares of common stock at the IOP price, less underwriting discounts and commissions.
The company has been approved to list its common stock on the New York Stock Exchange under the ticker symbol 'REF'. Reformation said it is yet to decide on the actual size or other terms of the offering, which will be subject to market conditions.
J.P. Morgan and Morgan Stanley are acting as joint lead bookrunning managers on the proposed offering, while Citigroup and RBC Capital Markets are acting as joint bookrunning managers.
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