Poshmark Inc. (POSH) Prices 6.6M Share IPO at $42/Sh

January 14, 2021 6:04 AM EST

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Poshmark, Inc. (NASDAQ: POSH) today announced the pricing of the initial public offering (IPO) of 6,600,000 shares of its Class A common stock at a price to the public of $42.00 per share. All of the shares are being offered by Poshmark. The shares are expected to begin trading on the Nasdaq Global Select Market on Jan. 14, 2021 under the symbol "POSH." In addition, the underwriters have a 30-day option to buy up to an additional 990,000 shares of Class A common stock from the company at the IPO price, less underwriting discounts and commissions. The closing of the offering is expected to occur on Jan. 19, 2021, subject to satisfaction of customary closing conditions.

Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, and Barclays Capital Inc. are acting as lead book-running managers for the offering. Stifel, Nicolaus & Company, Incorporated, William Blair & Company, L.L.C, Raymond James & Associates, Inc., Cowen and Company, LLC, and JMP Securities LLC are acting as book-running managers.

The offering will be made only by means of a prospectus.

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