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Highlights
- Solo Brands has four premium outdoor lifestyle brands- Oru Kayak, Solo Stove, Chubbies and ISLE Paddle Boards.
- Solo Brands has adopted innovative technologies to make virtually smokeless fire pits.
- Solo Brands aims to list its common shares on the New York Stock Exchange (NYSE).
Solo Brands, Inc., a maker of camping stoves, fire pits and outdoor lifestyle products, has set its terms for the initial public offering (IPO).
The company will offer a little over 12.9 million shares of the Class A common stock and has kept the price range between US$ 14 to US$ 17 per share.
According to reports, the maker of the direct-to-consumer product is seeking a valuation of more than US$ 1 billion. Solo Brands was started by two brothers in 2011 to combine e-commerce with the outdoor community.
The first product sold by the company was named Solo Stove Lite, a portable stove that doesn't need synthetic fuel. Ever since then, Solo Brands has adopted innovative technologies to make virtually smokeless fire pits.
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According to the documents filed with the US Securities and Exchange Commission (SEC), Solo Brands pioneered a new product category by making fire pits. In addition, it helped the company foster a loyal community of outdoor-going people.
After the launch of fire pits, Solo Stove registered a compounded annual growth rate (CAGR) of 132 per cent from 2016 to the first half of 2021.
Solo Brands has four premium outdoor lifestyle brands- Oru Kayak, Solo Stove, Chubbies and ISLE Paddle Boards.
How to buy the Solo Brands stock?
According to the SEC filing, Solo Brands aims to list its common shares on the New York Stock Exchange (NYSE). The company will likely trade under the stock symbol 'DTC'.
Once the common shares start trading on the NYSE, traders will have an option to buy them like regular stocks. Alternatively, if you are interested in the pre-IPO stock of the fire pit maker, you could try finding a trading platform offering these shares or a registered stockbroker.
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Bottom line
Solo Brands claims that Solo Stove's growth and free cash flows have allowed the company to invest in the global supply chain. This ensures that Solo Brands provides end-to-end customer service and achieve cost efficiency.
Solo Stove's growth also allowed the company to enter into multiple acquisitions agreements and eventually formed Solo Brands. In 2021, three companies- ISLE, Oru and Chubbies were acquired to create a sizeable direct-to-consumer enterprise.
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