The Lovesac Company, which sells premium couches and beanbag chairs, announced terms for its IPO on Monday.
The Stamford, CT-based company plans to raise $42 million by offering 3 million shares at a price range of $13 to $15. At the midpoint of the proposed range, The Lovesac Company would command a fully diluted market value of $177 million.
The Lovesac Company was founded in 1998 and booked $111 million in sales for the 12 months ended May 6, 2018. It plans to list on the Nasdaq under the symbol LOVE. Roth Capital is the sole bookrunner on the deal. It is expected to price during the week of June 25, 2018.
