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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

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By Tomi Kilgore

Rent the Runway Inc. /zigman2/quotes/208217928/composite RENT -1.69% 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 +9.17% has climbed 12.2% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +2.39% has gained 3.9%.

US : U.S.: Nasdaq
$ 4.07
-0.07 -1.69%
Volume: 1.13M
May 13, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$259.77 million
Rev. per Employee
US : U.S.: NYSE Arca
$ 31.06
+2.61 +9.17%
Volume: 248,958
May 13, 2022 4:10p
+93.81 +2.39%
Volume: 2.54B
May 13, 2022 4:57p

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