OLAPLEX Announces Exercise of Over-Allotment Option in Initial Public Offering

Rhea-AI Summary

Olaplex Holdings announced the full exercise of the underwriters' option to purchase an additional 11,055,000 shares of its common stock at $21.00 per share, finalized on October 8, 2021. This follows the company's initial public offering that closed on October 4, 2021, where it offered 73,700,000 shares. The shares were sold by existing stockholders, and Olaplex did not receive proceeds from this sale. The IPO took place on the Nasdaq Global Select Market under the symbol OLPX.

Positive

• Successful exercise of underwriters' option indicates strong demand for shares.
• Established a presence on Nasdaq with an initial public offering.

Negative

• OLAPLEX did not receive any proceeds from the sale of additional shares.

SANTA BARBARA, Calif., Oct. 08, 2021 (GLOBE NEWSWIRE) -- Olaplex Holdings, Inc. (“OLAPLEX”) announced that the underwriters of its previously announced initial public offering of common stock fully exercised their option to purchase an additional 11,055,000 shares of common stock at the public offering price of $21.00 per share, less underwriting discounts and commissions. The exercise of the over-allotment closed on October 8, 2021. The shares were offered by certain of OLAPLEX’s existing stockholders (the “Selling Stockholders”). OLAPLEX did not receive any proceeds from the sale of the shares by the Selling Stockholders.

OLAPLEX priced its initial public offering on September 29, 2021 and its shares of common stock began trading on the Nasdaq Global Select Market on September 30, 2021 under the symbol “OLPX.” The initial public offering of 73,700,000 shares closed on October 4, 2021.

Goldman Sachs & Co. LLC, J.P. Morgan, Morgan Stanley and Barclays acted as joint lead book-running managers for the offering. BofA Securities, Evercore ISI, Jefferies and Raymond James acted as joint book-running managers. Cowen, Piper Sandler, Truist Securities, Telsey Advisory Group, Drexel Hamilton and Loop Capital Markets acted as co-managers.

A registration statement related to this offering was declared effective by the Securities and Exchange Commission (“SEC”) on September 29, 2021. This offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or email: prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866) 803-9204, or by emailing prospectus-eq_fi@jpmchase.com; Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attn: Prospectus Department; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by calling (888) 603-5847, or by email at barclaysprospectus@broadridge.com.

This press release does 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 OLAPLEX
OLAPLEX is an innovative, science-enabled, technology-driven beauty company with a mission to improve the hair health of its consumers. A revolutionary brand, OLAPLEX paved the way for a new category of hair care called “bond-building,” the process of protecting, strengthening and rebuilding broken bonds in the hair during and after hair services. The brand’s products have an active, patent-protected ingredient that works on a molecular level to protect and repair hair from damage. OLAPLEX’s award-winning products are sold through a global omni-channel platform serving the professional, specialty retail, and direct-to-consumer channels.

Contacts
Financial Media and Investor Relations:
ICR
OLAPLEX@icrinc.com 

FAQ

What is the recent stock offering by Olaplex Holdings (OLPX)?

Olaplex Holdings announced the full exercise of underwriters' option to buy 11,055,000 shares at $21.00 each on October 8, 2021.

Did Olaplex receive proceeds from the recent share offering?

No, Olaplex did not receive any proceeds from the sale of shares by existing stockholders.

When did Olaplex Holdings go public and what is its stock symbol?

Olaplex Holdings went public on September 30, 2021, under the stock symbol OLPX.

How many shares were offered in Olaplex's initial public offering?

Olaplex's initial public offering included 73,700,000 shares.