1847 Goedeker, which operates an e-commerce platform for appliances and home goods, lowered the proposed range for its upcoming IPO on Thursday.
The Ballwin, MO-based company now plans to raise $10 million by offering 1 million shares at a price range of $9 to $11. The company had previously filed to offer the same number of shares at a range of $14 to $16. At the midpoint of the revised range, 1847 Goedeker will raise -33% less in proceeds than previously anticipated to command a market value of $58 million.
Operating under the name Goedeker's, the company sells home appliances, furniture, and other home goods (e.g. décor, bed & bath, lighting).
1847 Goedeker was founded in 1951 and booked $45 million in sales for the 12 months ended March 31, 2020. It plans to list on the NYSE American under the symbol GOED. ThinkEquity is the sole bookrunner on the deal.
