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

Rent the Runway Inc. /zigman2/quotes/208217928/composite RENT -10.78% 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 -0.68% has climbed 12.2% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.56% has gained 3.9%.

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Rent the Runway Inc.

US : U.S.: Nasdaq

$ 2.40

-0.29 -10.78%

Volume: 791,676

March 24, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$155.29 million

Rev. per Employee

$297,599

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Renaissance IPO ETF

US : U.S.: NYSE Arca

$ 27.57

-0.19 -0.68%

Volume: 14,705

March 24, 2023 3:59p

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S&P 500 Index

US : S&P US

3,970.99

+22.27 +0.56%

Volume: 0.00

March 24, 2023 5:02p