IPOs

Personalized supplements seller Thorne Healthtech files for a $100 million IPO

Thorne Healthtech, which offers a suite of personalized dietary supplements, filed on Friday with the SEC to raise up to $200 million, later updated to be $100 million.

Thorne Healthtech states that it is a science-driven wellness company pioneering innovative solutions and personalized approaches to health and well-being. Its vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. During the past decade, the company has evolved to become a transformative consumer brand, with a base of more than 3 million customers. Thorne employs a go-to-market strategy, combining a direct-to-consumer (DTC) and subscription model with an ecosystem of health professionals. It provides customers with direct access through its mobile, web, and Amazon channels, as well as through a network of more than 42,000 health professionals.

The New York, NY-based company was founded in 1984 and booked $150 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol THRN. Thorne Healthtech filed confidentially on April 19, 2021. BofA Securities, Cowen, Evercore ISI, and RBC Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Personalized supplements seller Thorne Healthtech files for a $100 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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