Level Brands, which is launching consumer lifestyle brands inspired by Kathy Ireland, announced terms for its Regulation A+ IPO on Friday. The Reg A+ deal is being marketed on a best efforts basis and will not be included in our IPO stats.
The Charlotte, NC-based company plans to raise $10 million by offering 1.7 million shares at a price of $6. At that price, Level Brands would command a fully diluted market value of $45 million.
The deal is being sold by sole bookrunner Joseph Gunnar and co-manager TriPoint Global. Orders can be placed on the company's Banq.co listing.
Level Brands was founded in 2015 and booked $3.6 million in sales (-27% EBITDA margin) for the 12 months ended June 30, 2017. It plans to list on the NYSE American under the symbol LEVB. It is expected to price during the week of November 13, 2017.
