Warby Parker, which sells low-cost prescription glasses online and in over 145 stores, is expected to begin trading on the NYSE on Wednesday, September 29, 2021. In its latest filing, the company also disclosed the number of Class A shares to be sold by existing shareholders.
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The Registered Stockholders plan to sell up to 77.7 million Class A shares. The company is holding an Investor Day on Monday, September 13, at 11:00am EST.
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 $2.9 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, or through its home try-on service.
None of the company's shareholders will be subject to the standard 180-day lock-up agreement found in most IPOs.
Warby Parker 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. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, Goldman Sachs, Morgan Stanley, Allen & Company, Baird, Citi, Cowen, Evercore ISI, and Telsey Advisory Group will serve as financial advisors.
