Alba’s Honest Co. Set for Opening Bell After $413 Million IPO
SYNDICATED 6 hours ago (Bloomberg) The Honest Co. makes its trading debut Wednesday in a further test of co-founder Jessica Alba’s pitch to would-be wellness investors.The personal-care products brand and its venture capital backers raised $413 million in an initial public offering Tuesday, selling 25.8 million shares for $16 each after marketing them for $14 to $17.An actress turned entrepreneur, Alba included a letter to potential investors in the.
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Joseph Pisani
FILE - Jessica Alba arrives at the 5th annual InStyle Awards on Monday, Oct. 21, 2019, at the Getty Center in Los Angeles. Shares of Honest Co., the diaper and baby-wipe seller founded by Alba, soared 44% in their stock market debut, Wednesday, May 5, 2021, valuing the company at nearly $2.1 billion. (Photo by Jordan Strauss/Invision/AP) May 05, 2021 - 1:56 PM
NEW YORK - Shares of Honest Co., the diaper and baby-wipe seller founded by actress Jessica Alba, soared 44% in their stock market debut Wednesday, valuing the company at nearly $2.1 billion.
Alba founded Honest Co. a decade ago after using baby laundry detergents that caused her allergic reactions.
socaltech.com
Los Angeles-based
Honest Co., the lifestyle brand offering up baby, skin, and household products, debuted in its IPO on Wednesday, raising $413M for the company and bringing yet another Southern California startup to the public markets. Honest Co. priced its IPO last night at $16.00 per share, at the midpoint of its $14.00 to $17.00 estimated IPO range, and surged in trading on Wednesday, up nearly 38% in mid-day trading at over $22.00 per share. Honest Co. now trades on the Nasdaq as HNST. The company s top shareholders are THC Shared Abacus, LP, Institutional Venture Partners, Fidelity, and General Catalyst. The company which sells health, home, and personal care products is notable for its involvement of celebrity Jessica Alba, as well as longtime startup veteran Brian Lee.