The RealReal, an authenticated online luxury consignment store, announced terms for its IPO on Monday.
The San Francisco, CA-based company plans to raise $270 million by offering 15 million shares at a price range of $17 to $19. At the midpoint of the proposed range, The RealReal would command a fully diluted market value of $1.6 billion.
The RealReal was founded in 2011 and booked $230 million in sales for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol REAL. Credit Suisse, BofA Merrill Lynch, UBS Investment Bank, KeyBanc Capital Markets and Stifel are the joint bookrunners on the deal. It is expected to price during the week of June 24, 2019.
