jxfzsy/iStock via Getty Images
- Olaplex Holdings (OLPX) has priced its IPO of 73.7M shares of its common stock at $21.00/share. All the shares are being offered by company's certain existing stockholders (Selling Stockholders).
- The company initially filed to offer 67M shares at a price range of $17-$19.
- Trading commences September 30, 2021.
- Underwriters' over-allotment is an additional 11.055M shares.
- Closing date is October 4.
- OLPX will not receive any proceeds from the sale of the shares by Selling Stockholders.
- Olaplex is an innovative, science-enabled beauty company with a mission to improve the hair health of its consumers. A revolutionary brand, OLAPLEX paved the way for a new category of hair care called “bond-building,” to protect and repair hair from damage.
- The company has seen strong momentum in its business, with net sales increasing from $99.6M for H1 ended June 30, 2020 to $270.2M for the six months ended June 30, 2021, representing an increase of 171%, and net income increasing from a net loss of $22.4M for H1 2020 to net income of $94.9M for H1 2021 ended June 30, 2021.
- Seeking Alpha contributor Donovan Jones issued a "Bullish" rating for OLPX and said, "While the IPO isn't cheap, OLPX's revenue growth trajectory, profits, and copious free cash flow are impressive, so the IPO is worth consideration."
