YogaWorks, which operates 50 yoga studios in major US metropolitan markets, announced terms for its IPO on Monday.
The Culver City, CA-based company plans to raise $65 million by offering 5 million shares at a price range of $12 to $14. At the midpoint of the proposed range, YogaWorks would command a fully diluted market value of $187 million. Insiders have indicated an interest in purchasing up to $10 million (15% of the deal) in shares on the IPO.
YogaWorks was founded in 1987 and booked $54 million in revenue for the 12 months ended March 31, 2017. It plans to list on the Nasdaq under the symbol YOGA. Cowen & Company, Stephens Inc. and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price during the week of July 17, 2017.
The article YogaWorks, a US yoga studio chain, sets terms for $65 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
