Poshmark (POSH) IPO Opens 132% Higher

January 14, 2021 11:43 AM EST

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Today's IPO for Poshmark, Inc. (NASDAQ: POSH) opened for trading at $97.50 after pricing 6,600,000 shares at $42.

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.

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.

Poshmark is a leading social marketplace for new and secondhand style for women, men, kids, home, and more. By combining the human connection of physical shopping with the scale, ease, and selection benefits of ecommerce, Poshmark makes buying and selling simple, social, and fun. Its community of more than 70 million registered users across the U.S. and Canada is driving the future of commerce while promoting more sustainable consumption.

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