IPO for Jessica Alba's The Honest Company (HNST) Opens 33% Higher

Today's IPO for Jessica Alba's The Honest Company, Inc. (NASDAQ: HNST) opened for trading at $21.22 after pricing 25,807,000 shares of common stock at a price to the public of $16.00 per share, the higher-end of the expected $14-$17 range.

e Honest Company is offering 6,451,613 shares of common stock and the selling stockholders named in the prospectus are offering 19,355,387 shares of common stock.

Morgan Stanley, J.P. Morgan and Jefferies are acting as joint lead book-running managers and as representatives of the underwriters for the offering. BofA Securities, Citigroup, William Blair and Guggenheim Securities are also acting as book-running managers for the offering. Telsey Advisory Group, C.L. King & Associates, Loop Capital Markets, Penserra Securities LLC and Ramirez & Co., Inc. are also acting as co-managers for the offering.

The Honest Company is a mission-driven, digitally-native brand focused on leading the clean lifestyle movement, creating a community for conscious consumers and seeking to disrupt multiple consumer product categories.

The company grew revenue 27.6% from $235.6 million in 2019 to $300.5 million in 2020. It also increased gross margin from 2019 by 370 basis points to 35.9% in 2020. The Honest Company generated a net loss of $14.5 million in 2020 while posting adjusted EBITDA of $11.2 million in 2020.

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