LightInTheBox, a global online retail company that offers a selection of lifestyle products, announced terms for its IPO on Thursday. The Beijing, China-based company plans to raise $79 million by offering 8.3 million shares at a price range of $8.50 to $10.50. At the midpoint of the proposed range, LightInTheBox would command a market value of $465 million. LightInTheBox filed for an IPO with a proposed deal size of $86 million in April.
LightInTheBox, which was founded in 2007 and booked $236 million in sales for the 12 months ended March 31, 2013, plans to list on the NYSE under the symbol LITB. LightInTheBox initially filed confidentially on January 10, 2013. Credit Suisse and Stifel are the joint bookrunners on the deal. The deal is scheduled to price June 5.
