The Lovesac Company, which sells premium couches and beanbag chairs, raised the proposed deal size for its upcoming IPO on Monday.
The Stamford, CT-based company now plans to raise $46 million by offering 3.3 million shares at a price range of $13 to $15. The company had previously filed to offer 3.0 million shares at the same range. At the $14 midpoint, Lovesac will raise 10% more in proceeds than previously anticipated and command a market value of $184 million.
The Lovesac Company was founded in 1998 And booked $111 million in sales for the 12 months ended April 30, 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 this week.
