IPOs

Micro-cap home furnishings e-tailer Goedeker's lowers range to $9 to $11 ahead of $10 million IPO

1847 Goedeker, which operates an e-commerce platform for appliances and home goods, lowered the proposed deal size for its upcoming IPO on Thursday.

The Ballwin, MO-based company now plans to raise $10 million by offering 1 million shares at a price range of $9 to $11. The company had previously filed to offer 1 million shares at a range of $14 to $16. At the midpoint of the revised range, 1847 Goedeker will raise -33% less in proceeds than previously anticipated and an enterprise value of $X.X billion.

1847 Goedeker was founded in 1951 and booked $45 million in sales for the 12 months ended March 31, 2020. It plans to list on the NYSE American under the symbol GOED. ThinkEquity is the sole bookrunner on the deal

The article Micro-cap home furnishings e-tailer Goedeker's lowers range to $9 to $11 ahead of $10 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's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts 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.

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