Arhaus Inc. /zigman2/quotes/230666270/composite ARHS -9.40% has set the terms for its initial public offering, in which the profitable Ohio-based premium home furnishings retailer could be valued at up to $2.38 billion. The company could raise up to $219.4 million, as it is offering 12.9 million Class A shares in the IPO, which is expected to price between $14 and $17 a share. Selling shareholders are offering 10.0 million shares in the IPO, as they look to raise up to $170.0 million. The company expects to have a total of 140.06 million shares outstanding after the IPO, including 57.34 million Class A shares and 82.72 million Class B shares. The Class A shares are expected to list on the Nasdaq under the ticker symbol "ARHS." BofA Securities and Jefferies are the lead underwriters. The company recorded net income of $16.2 million on revenue of $355.4 million during the six months ended June 30, after income of $10.7 million on revenue of $224.1 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -6.64% has rallied 10.7% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.40% has gained 4.0%.