Market Pulse Archives

Oct. 27, 2021, 6:25 a.m. EDT

Rent the Runway's upsized IPO priced at the top of the expected range, valuing company at $1.3 billion

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Rent the Runway Inc. (RENT)
  • X
    Renaissance IPO ETF (IPO)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Rent the Runway Inc. /zigman2/quotes/208217928/composite RENT +7.23% is headed for its Wall Street debut on Wednesday, after the fashion rental company said overnight that its upsized initial public offering priced at $21 a share, at the top of the expected range of between $18 and $21 a share. The company sold 17.0 million Class A shares in the IPO, up from an expected 15.0 million share offering, to raise $357.0 million. With a total of 60.87 million Class A and Class B shares expected to be outstanding after the IPO, the pricing valued the company at about $1.28 billion. The stock is expected to begin trading on the Nasdaq some time after the open under the ticker symbol "RENT." The company is going public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +3.17% has climbed 12.2% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.64% has gained 3.9%.

US : U.S.: Nasdaq
$ 5.57
+0.38 +7.23%
Volume: 265,926
Jan. 26, 2022 12:21p
P/E Ratio
Dividend Yield
Market Cap
$327.16 million
Rev. per Employee
US : U.S.: NYSE Arca
$ 44.98
+1.38 +3.17%
Volume: 46,302
Jan. 26, 2022 12:14p
+71.62 +1.64%
Volume: 1.12B
Jan. 26, 2022 12:21p

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.