Cricut (CRCT) IPO Opens 21% Lower
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Today's IPO for Cricut, Inc. (NASDAQ: CRCT) opened for trading at $15.80 after pricing 15,314,903 shares of Class A common stock, of which 13,250,000 shares are offered by Cricut and 2,064,903 shares are offered by certain of Cricut’s existing shareholders at a price to the public of $20.00 per share.
Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are acting as lead bookrunning managers for the offering. Citigroup Global Markets Inc. and Barclays Capital Inc. are also serving as joint-bookrunning managers for the offering. Robert W. Baird & Co. Incorporated is acting as co-manager for the offering.
Cricut Inc. is a creative technology platform company dedicated to encouraging new ways for people to experience making at home. As an empowering lifestyle brand, the company mission is to unleash the creative potential of consumers with innovations that bring ideas to life in the form of professional looking, personalized handmade projects. The company’s industry-leading products include its flagship line of smart cutting machines—Cricut Maker®, the Cricut Explore® family, and Cricut Joy®— accompanied by other unique tools like Cricut EasyPress®, the Infusible Ink™ system, and a diverse collection of materials. In addition to the company’s core offerings, the brand also fosters a thriving community of more than four million dedicated users worldwide.
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