e.l.f. Beauty (ELF) Prices 8.33M Common Stock IPO at $17/Share, Above Previous Expectations

September 22, 2016 6:26 AM EDT
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e.l.f. Beauty, Inc. (NYSE: ELF) announced the pricing of the initial public offering of 8,333,333 shares of its common stock at a public offering price of $17.00 per share. The selling stockholders are selling 4,333,333 shares of common stock, and e.l.f. is selling 4,000,000 shares of common stock in the proposed offering. The shares are expected to begin trading on the New York Stock Exchange on September 22, 2016 under the ticker symbol “ELF.” In addition, the underwriters have a 30-day option to purchase from the selling stockholders up to an additional 1,250,000 shares of common stock at the initial public offering price, less the underwriting discount.

*** The company recently expected a pricing range of $14 to $16 per share.

The closing of the offering is expected to occur on September 27, 2016, subject to the satisfaction of customary closing conditions.

J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint lead book-running managers in the proposed offering. Piper Jaffray & Co. and Wells Fargo Securities, LLC are also acting as book-running managers in the proposed offering. William Blair & Company, L.L.C., Cowen and Company, LLC, BMO Capital Markets Corp., Stifel, Nicolaus & Company, Incorporated and SunTrust Robinson Humphrey, Inc. are acting as co-managers in the proposed offering.

A registration statement relating to the securities was declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering will be made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling toll-free at (866) 803-9204 or Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department.



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