Online clothing service Stitch Fix sets terms for $190 million IPO

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Stitch Fix, an online personal-styling service and clothing retailer, announced terms for its IPO on Monday.

The San Francisco, CA-based company plans to raise $190 million by offering 10 million shares (10% insider) at a price range of $18 to $20. At the midpoint of the proposed range, Stitch Fix would command a fully diluted market value of $2.0 billion.

Stitch Fix was founded in 2011 and booked $977 million in sales for the 12 months ended July 31, 2017. It plans to list on the Nasdaq under the symbol SFIX. Goldman Sachs, J.P. Morgan, Barclays and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of November 13, 2017.

The article Online clothing service Stitch Fix sets terms for $190 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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