Olaplex has announced the pricing of its initial public offering of 73,700,000 shares of its common stock at a price to the public of $21.00 per share. The company is now valued at $15 billion, Forbes points out.
Olaplex shares are set to trade on the Nasdaq Global Select Market under the symbol “OLPX.”
The offering is expected to close on October 4, 2021, subject to customary closing conditions.
All 73,700,000 shares of common stock are being offered by certain of Olaplex’s existing stockholders (the “selling stockholders”).
Olaplex will not receive any proceeds from the sale of the shares by the selling stockholders. The selling stockholders have granted the underwriters a 30-day option to purchase up to 11,055,000 additional shares of common stock from the selling stockholders at the initial public offering price, less underwriting discounts and commissions.