Brilliant Earth Group Inc. /zigman2/quotes/229492982/composite BRLT +8.43% has set terms for its initial public offering, in which the California-based jewelry company could be valued at up to $1.51 billion. The company is looking to raise up to about $266.7 million, as it is offering 16.67 million shares in the IPO, which is expected to price between $14 and $16 a share. The company expects to have about 16.67 million Class A shares, 32.47 million Class B shares and 45.20 million Class C shares outstanding after the IPO. The stock is expected to list on the Nasdaq under the ticker symbol "BRLT." J.P. Morgan, Credit Suisse, Jefferies and Cowen are the lead underwriters. The company recorded net income of $11.8 million on revenue of $163.0 million for the six months ended June 30, after income of $12.0 million on revenue of $251.8 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 +4.53% has gained 5.9% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +2.07% has advanced 5.0%.