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KinderCare Learning Companies, the largest private provider of high-quality early childhood education in the US by center capacity, celebrated its first day of trading on the New York Stock Exchange under the ticker symbol 'KLC'. CEO Paul Thompson and senior leaders were present for this milestone event.
Thompson emphasized the company's commitment to addressing the growing need for child care among working families across the country. He stated that going public will enable KinderCare to expand its high-quality early childhood education and care services to more families and communities.
The CEO reaffirmed the company's core purpose: 'to build confidence in kids, families, and the future we share.' This public listing marks a significant step in KinderCare's journey to meet the increasing demand for quality child care services in the United States.
KinderCare Learning Companies, the largest private provider of early childhood education in the US by center capacity, has announced the pricing of its initial public offering (IPO). The company is offering 24,000,000 shares of common stock at $24.00 per share. Underwriters have a 30-day option to purchase up to 3,600,000 additional shares. KinderCare's stock is expected to begin trading on the New York Stock Exchange on October 9, 2024, under the symbol "KLC". The offering is set to close on October 10, 2024, subject to customary conditions.
KinderCare plans to use the net proceeds to repay existing debt and cover expenses. The IPO is led by Goldman Sachs & Co. , Morgan Stanley, Barclays, and J.P. Morgan as lead bookrunning managers, with several other firms acting as joint book-runners and co-managers.
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