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Highlights
- Rent the Runway IPO could gain investors’ attention as investors are focusing on pre-IPO stocks in hopes of higher returns.
- Rent the Runway is planning to list its shares on the Nasdaq Stock Market and trade under the stock symbol 'RENT'.
- Started in 2009, Rent the Runway aims to power women by offering a wide variety of stylish clothes and accessories.
The fashion rental company, Rent the Runway, Inc. is looking to go public in the US equities market as fewer public health restrictions are expected to increase the number of in-person parties and weddings.
The New York-based e-commerce company allows customers to rent, buy or subscribe to designer apparel and accessories. Rent the Runway could be looking to go public to raise money for business operations and in hopes that the women would be looking to refresh their wardrobes as they step out after a gap of almost two years.
Due to the COVID-19 pandemic, the fashion brand faced losses and even its subscriber base took a hit due to lockdown measures. According to the documents filed with the US Securities and Exchange Commission (SEC), Rent the Runway's total subscribers reduced to 95,245 in 2020 from 147,866 in 2019.
Rent the Runway IPO: How to buy the fashion rental company's stock?
Meanwhile, in 2021, the company seems to have regained its lost subscribers as the number increased to 126,841 for the six months ended July 31, 2021. In the same comparable period of 2020, the total subscribers were 108,752.
Here's what you must know about Rent the Runway IPO
The apparel and accessories company is hoping to raise US$ 100 million in gross proceeds from the initial public offering (IPO) and has not revealed the price range of its common stock. The final figure could change after the company sets the term for the IPO.
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Rent the Runway is planning to list its shares on the Nasdaq Global Select Market and trade under the stock symbol 'RENT'.
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Potential investors interested in this stock will likely get an option to invest in the pre-IPO shares after the price range of the shares is declared by the company. Trading platforms of brokerage companies offer retail investors to get hold of the stock before the company is listed in a stock market. Also, some stockbrokers allot pre-IPO shares.
The underwriting responsibility for the offering would be taken by Barclays, Morgan Stanley, and Goldman Sachs Group Inc.
Bottom line
Started in 2009, Rent the Runway aims to power women by offering a wide variety of stylish clothes and accessories.
The company has now emerged as one of the leading fashion-rental brands in the US and has more than 18,000 styles and over 750 designer brands.
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