Stock priced and will begin trading on the Nasdaq

p 2 Rent the Runway IPO the fashion rental firm debuts on the NASDAQ under ticker %E2%80%98RENT%E2%80%99

The most recent high-profile tech IPO is occurring at this time. Shares of the trend startup Lease the Runway make their market debut 12 years after the founding of the firm. Right here’s what it is advisable know.

  • What’s Lease the Runway? It’s a trend startup that permits clients to lease garments for particular occasions—like a marriage or workplace get together. The corporate additionally gives subscription companies, so you may consider it as a Netflix for garments in a approach. Lease the Runway was based in 2009 and is predicated in New York Metropolis.
  • Which alternate will Lease the Runway debut on? Lease the Runway will debut on the Nasdaq World Choose Market.
  • What will Lease the Runway’s inventory ticker be? Lease the Runway will commerce underneath the ticker “RENT.”
  • What number of shares of RENT can be found? There will be 17,000,000 shares of Class A typical refill for grabs, according to a press launch.
  • How a lot will RENT shares price? RENT shares will IPO for $21 per share. Which means if all shares go for that worth, Lease the Runway will increase $357 million in at this time’s IPO.
  • Anything I ought to know? Lease the Runway has the largest dry cleansing facility in the world, stories Quick Firm‘s Elizabeth Segran. It additionally had a tough 2020 provided that not many individuals had been attending social occasions.