Customers can have four bottles a month delivered at an introductory price of $29.95, according to the Winc website. Winc is known for its online wine club that lets users order bottles through a subscription service. It ended up selling 1.69 million shares at $13 late Wednesday. The wine company refiled its IPO, slashing its deal size to 1.53 million shares at $12 to $14. Winc was originally scheduled to open in October. Shares of Winc kicked off at its offer price of $13 and closed at $12.88, off 12 cents from its IPO price. (WBEV) began trading after postponing its deal last month. The IPO is a “testament to the Lu crew and the millions of brand fans that got us to this stage,” McCreight said. Lulu’s will be “debt-free within the next quarter or two. The company plans to use proceeds to pay down its debt, which was about $100 million, McCreight said. Revenue rose 24% to $172.5 million for the July 4 period, the prospectus said. The e-tailer reported nearly $7 million of income for the six months ended July 4, compared with $15.5 million in losses for the same period in 2020. “We think that’s a great testament to doing something right because people are telling each other,” McCreight said. Lulu’s has over 2.5 million active customers with most coming through word-of-mouth. The average Lulu’s customer is a woman in her mid- to late 20s who is “dialed into own personal aesthetic,” he said. The company began dabbling with digital in 2005 but didn’t transition to a pure online business until 2008, he said. Lulu’s is an e-commerce retailer that sells products like apparel, shoes, and accessories directly to consumers. It was founded in 1996 as a consignment vintage shop in Chico, Calif., with a $10,000 investment, said CEO David McCreight, who spoke to Barron’s before the stock began trading. Lulu’s raised $92 million after selling 5.75 million shares at $16, the bottom of its $16 to $19 range. The stock launched at $14.05 and ended at $13.06, off more than 18% from its offer price. (LVLU), the other e-commerce company, was down more than 20%. Kidpik provides mix-and-match outfits for children that are delivered in a box every four, six, or 12 weeks. Late Wednesday, Kidpik sold 2.1 million shares at $8.50, up from the 1.7 million shares at $8 to $10 it had planned to offer. (PIK), a subscription-based e-commerce company, opened at $9.99 and fell to a low of $8.09 before rebounding. Weave provides cloud-based software that helps small and medium sized businesses modernize and personalize communications with their customers. Late Wednesday, Weave sold 5 million shares at $24, below its $25 to $28 price range. Weave’s stock opened at $21.80 and closed at $18.79, down nearly 22%. This makes Weave a broken IPO. (WEAV) didn’t share Blackblaze’s and Vaxxinity’s fortune. Late Wednesday, Backblaze raised $100 million after selling 6.25 million shares at $16 each, the middle of its $15 to $17 price range. Customers include Good Eats, American Public Television, and Gladstone Institutes. (BLZE) also gained. Shares kicked off at $19 and ended at $19.90, up over 24% from its offer price.īackblaze provides a cloud-storage platform for more than 480,000 businesses and consumers. Vaxxinity is developing therapeutics to treat chronic diseases like Alzheimer’s disease, Parkinson’s disease, migraines, and hypercholesterolemia, a prospectus said. The biotech had offered 6.7 million shares at $14 to $16, but ended up selling 6 million shares at $13. The strong debut came after Vaxxinity slashed the size of its IPO, which priced below its expected range. The stock opened at $16.90 and closed at $16.55, up $3.55 from its IPO price. (VAXX), which saw its shares rise more than 27% in the aftermarket, turned in the best first-day performance of Thursday’s group. The six companies that began trading Thursday includeĪ cloud storage platform Weave Communications, which provides communications and payments for small- and medium-size businesses Winc, an online wine seller Vaxxinity, a biotech firm and Lulu’s Fashion Lounge Holdings and Kidpik, both e-commerce companies.
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