Lulu’s Fashion Lounge Holdings, Inc. Announces Launch of Initial Public Offering

Rhea-AI Summary

Lulu's Fashion Lounge Holdings has announced its proposed initial public offering (IPO) of 5,750,000 shares of common stock, with an expected price range between $16.00 and $19.00 per share. An additional 862,500 shares may be purchased by underwriters within 30 days. The stock will trade on the Nasdaq under the ticker symbol LVLU. Goldman Sachs, BofA Securities, and Jefferies are joint lead managers for the offering. The IPO registration is pending effectiveness with the U.S. SEC.

Positive

• Proposed IPO of 5,750,000 shares could generate significant capital for expansion.
• Additional shares option for underwriters may enhance liquidity post-IPO.
• Engagement of reputable underwriters indicates strong market confidence.

Negative

• Potential dilution of shares if underwriters exercise their option to purchase additional shares.

CHICO, Calif., Nov. 01, 2021 (GLOBE NEWSWIRE) -- Lulu’s Fashion Lounge Holdings, Inc. (“Lulus” or the “Company”), a customer driven, digitally native women’s fashion brand, today announced the launch of its proposed initial public offering of 5,750,000 shares of its common stock. All of the shares are being offered by Lulus. The underwriters will have a 30-day option to purchase up to an additional 862,500 shares of common stock from the Company at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is currently expected to be between $16.00 and $19.00 per share. Lulus’ common stock is expected to trade on the Nasdaq Global Market under the ticker symbol “LVLU.”

Goldman Sachs & Co. LLC, BofA Securities and Jefferies are acting as joint lead book-running managers for the proposed offering, with Baird, Cowen, KeyBanc Capital Markets and Piper Sandler acting as book-running managers and Telsey Advisory Group acting as co-manager for the proposed offering.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the proposed offering, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by email at prospectus_department@Jefferies.com, or by telephone at (877) 821-7388.

A registration statement on Form S-1 relating to the proposed offering has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Lulus

Lulus is a customer driven, digitally native fashion brand for women. Based in California and serving millions of customers worldwide, Lulus develops styles with the customer in mind, using direct consumer feedback and insights to refine its products. As a brand built on customer feedback, Lulus puts an extreme focus on providing exceptional customer service and a personalized shopping experience. With fresh inventory hitting the site almost daily, Lulus features on-trend, must-have pieces, at affordable luxury prices. The brand’s world class personal stylists, bridal concierge, and customer care team take pride in offering a personalized shopping experience to every customer. Lulus was founded in 1996.

Contacts

Media

Noelle Sadler
Chief Marketing Officer
noelle@lulus.com

Investors

Crystal Landsem
Chief Financial Officer
investors@lulus.com

FAQ

What is Lulu's Fashion Lounge's expected IPO price range?

The expected IPO price range is between $16.00 and $19.00 per share.

How many shares is Lulu's Fashion Lounge offering in the IPO?

Lulu's is offering 5,750,000 shares of its common stock in the IPO.

What is the ticker symbol for Lulu's Fashion Lounge on Nasdaq?

The ticker symbol for Lulu's Fashion Lounge on Nasdaq is LVLU.

Who are the underwriters for Lulu's IPO?

Goldman Sachs, BofA Securities, and Jefferies are the joint lead managers for the IPO.

What is the significance of the underwriters' option to purchase additional shares?

The underwriters have a 30-day option to purchase up to 862,500 additional shares, which could enhance liquidity in the market.