Warby Parker, a prescription eyeglass retailer that offers eye exams and vision tests, filed on Tuesday to register its shares with the SEC and complete a direct listing on the NYSE. The Class A shares listed will be sold by existing shareholders; Warby Parker will not raise new capital in its listing. The company did not disclose the initial tradable float, a reference price, or anticipated timing of its listing.
During the first half of 2021, about 2.0 million shares were sold in private transactions at a price of $24.53; if the company listed its shares at that price, Warby Parker would command a fully diluted market value of $2.8 billion.
Warby Parker offers a full suite of eyecare products and services, including designer-quality glasses (starting at $95), contacts, eye exams, and vision tests. Customers can access the company's offerings online, at one of its 145 retail stores, and from their own homes.
The New York, NY-based company was founded in 2010 and booked $487 million in sales for the 12 months ended June 30, 2021. It plans to list on the NYSE under the symbol WRBY. Warby Parker filed confidentially on June 21, 2021. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, Goldman Sachs, Morgan Stanley, and Allen & Company will serve as financial advisors.
