Casper Sleep, a direct-to-consumer mattress and bedding brand, announced terms for its IPO on Monday.
The New York, NY-based company plans to raise $150 million by offering 8.35 million shares at a price range of $17 to $19. At the midpoint of the proposed range, Casper Sleep would command a fully diluted market value of $734 million.
Casper Sleep was founded in 2013 and booked $411 million in sales for the 12 months ended September 30, 2019. It plans to list on the NYSE under the symbol CSPR. Morgan Stanley, Goldman Sachs, Jefferies, BofA Securities, UBS Investment Bank, Citi, Piper Jaffray and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price during the week of February 3, 2020.
