e.l.f. Beauty, which sells low-cost branded cosmetics for the eyes, lips and face, announced terms for its IPO on Monday.
The Oakland, CA-based company plans to raise $125 million by offering 8.3 million shares (52% insider) at a price range of $14 to $16. At the midpoint of the proposed range, e.l.f. Beauty would command a fully diluted market value of $737 million.
e.l.f. Beauty was founded in 2004 and booked $213 million in sales for the 12 months ended June 30, 2016. It plans to list on the NYSE under the symbol ELF. J.P. Morgan, Morgan Stanley, Piper Jaffray and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of September 19, 2016.
