healthcare apparel maker debuts on the NYSE

The healthcare apparel firm Figs, Inc has its preliminary public providing as we speak. Figs will IPO on the New York Inventory Change beneath the inventory ticker image FIGS (in fact). Figs inventory already made headlines earlier this week when Robinhood allowed retail traders (us mere mortals–not huge banks and funds) to purchase the inventory earlier than the debut.

However when FIGS goes dwell on the NYSE as we speak, will probably be obtainable to all–not simply institutional traders and Robinhood customers. Right here’s what it is advisable to learn about the Figs IPO:

  • What’s Figs? It’s a healthcare apparel firm that was based in 2013. The corporate sells uniforms and different equipment to healthcare staff, equivalent to nurses, medical doctors, and medical college students, instantly. The corporate was based by Heather Hasson and Trina Spear, who at the moment are its co-CEOs.
  • What’s FIGS IPO inventory worth? Figs priced its IPO shares at $22 a share on Wednesday evening, reports MarketWatch. That’s really a rise from the preliminary $16 to $19 IPO worth vary estimate. The rise in the IPO worth means Figs and its underwriters (the huge banks) imagine there may be demand for the inventory.
  • What number of FIGS shares will likely be obtainable? 26.4 million shares of FIGS will go on sale as we speak. That’s additionally an increase from the 22.5 million shares the IPO was initially planning to supply.
  • What’s Figs value? The corporate is firmly in unicorn territory. On an fairness foundation, the firm is believed to be value round $4.4 billion.
  • How is Figs totally different than different apparel firms? Most apparel firms are designed to promote items to shoppers whereas Figs sells apparel to healthcare staff. As Figs’ prospects explains: “Not like most different classes in the apparel sector, the healthcare apparel trade is basically non-discretionary, recession resistant and far much less prone to style or fad threat.” In different phrases, irrespective of if the economic system goes via a growth or bust – or a pandemic – healthcare staff all the time want to purchase apparel for his or her job. Meaning Figs can extra simply rely on a gentle stream of gross sales than discretionary apparel suppliers.