Mytheresa Announces Launch Of Initial Public Offering

Rhea-AI Summary

MYT Netherlands Parent B.V. (Mytheresa) has launched its initial public offering (IPO) of 15,647,059 American Depositary Shares (ADSs), with each ADS representing one ordinary share. The IPO price is set between $16.00 and $18.00 per ADS, and underwriters have a 30-day option to purchase an additional 2,347,058 ADSs. The shares will be listed on the New York Stock Exchange under the ticker symbol MYTE. Leading underwriters include Morgan Stanley and J.P. Morgan.

Positive

• Initial public offering of 15,647,059 ADSs, indicating strong market interest.
• Potential for capital raise between $251 million and $282 million at the IPO price.

Negative

• Possible dilution of current shareholders if underwriters exercise their 30-day option for additional ADSs.

MUNICH, Jan. 12, 2021 /PRNewswire/ -- MYT Netherlands Parent B.V. ("Mytheresa" or the "Company"), the parent company of the Mytheresa Group GmbH, today announced that it has launched the initial public offering of its American Depositary Shares (ADSs). MYT Netherlands Parent B.V. is offering 15,647,059 ADSs to the public. Each ADS represents one ordinary share of the Company. The Company has also granted the underwriters a 30-day option to purchase up to an additional 2,347,058 of its ADSs at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $16.00 and $18.00 per ADS. Mytheresa has applied to list its ADSs on the New York Stock Exchange under the ticker symbol "MYTE."

Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are acting as lead book-running managers and representatives of the underwriters for the proposed offering. Credit Suisse Securities (USA) LLC and UBS Securities LLC are acting as book-running managers for the proposed offering. Jefferies LLC is acting as co-manager and Cowen and Company LLC is acting as passive bookrunner for the proposed offering.

The proposed offering will only be made by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained from: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attn: Prospectus Department or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 Telephone: 866-803-9204 Email: prospectuseq_fi@jpmorganchase.com.

A registration statement relating to these securities has been filed with the 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.

Forward-Looking Statements

This press release includes "forward looking information," including with respect to the initial public offering. These statements are made through the use of words or phrases such as "will" or "expect" and similar words and expressions of the future. Forward-looking statements involve known and unknown risks, uncertainties and assumptions, including the risks outlined under "Risk Factors" in the preliminary prospectus and elsewhere in the Company's filings with the SEC, which may cause actual results to differ materially from any results expressed or implied by any forward-looking statement. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it cannot guarantee future results. The Company has no obligation, and does not undertake any obligation, to update or revise any forward-looking statement made in this press release to reflect changes since the date of this press release, except as required by law.

Media Contacts for public relations	Media Contacts for business press
Mytheresa.com GmbH	Edelman USA
Sandra Romano	Ted McHugh / Nicole Briguet
mobile: +49 152 54725178	phone: +1 201 341-0211 / +1 646 750-7235
phone: +49 89 127695-236	email: ted.mchugh@edelman.com
email: sandra.romano@mytheresa.com	email: nicole.briguet@edelman.com
	Edelman Germany, Austria, Switzerland
	Ruediger Assion
	mobile: +49 162 4909624
	phone: +49 221 8282 8111
	email: ruediger.assion@edelman.com

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SOURCE Mytheresa

FAQ

What is the price range for MYTE's IPO?

The expected initial public offering price for MYTE's ADSs is between $16.00 and $18.00.

How many ADSs is MYTE offering in its IPO?

MYTE is offering 15,647,059 American Depositary Shares in its initial public offering.

What is the ticker symbol for MYTE's shares?

The shares of MYT Netherlands Parent B.V. will be listed under the ticker symbol MYTE on the New York Stock Exchange.

Who are the lead underwriters for MYTE's IPO?

Morgan Stanley and J.P. Morgan Securities LLC are acting as lead book-running managers for MYTE's IPO.

What are the risks associated with MYTE's IPO?

The offering includes forward-looking statements that carry risks and uncertainties, which may affect actual results.