: Il Makiage parent Oddity’s upsized IPO prices above range at $35 a share
Oddity Tech, an Israeli digital beauty and wellness company, priced its upsized initial public offering late Tuesday at $35 a share, above the already raised proposed price range of $32 to $34. The company, parent to the Il Makiage beauty line, sold 12.1 million shares to raise $423.5 million at a valuation of $1.98 billion. The offering was comprised of 1.8 million Class A shares, which carry one voting right, and 10.4 million Class B shares sold by selling shareholders, which carry 10 votes. The company will not receive any proceeds from the sale by the selling stockholders. The shares are expected to start trading on Nasdaq later Wednesday, under the ticker ‘ODD.’ The company is profitable and revenue is growing. The Renaissance IPO ETF IPO has gained 45% in the year to date, while the S&P 500 has gained 18.6%.
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