Thorne Healthtech, which offers a suite of personalized dietary supplements, announced terms for its IPO on Monday.
The New York, NY-based company plans to raise $126 million by offering 9 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Thorne Healthtech would command a fully diluted market value of $892 million.
Thorne Healthtech states that it is a science-driven wellness company pioneering innovative solutions and personalized approaches to health and well-being. Its vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. During the past decade, the company has evolved to become a transformative consumer brand, with a base of more than 3 million customers. Thorne employs a go-to-market strategy, combining a direct-to-consumer (DTC) and subscription model with an ecosystem of health professionals. It provides customers with direct access through its mobile, web, and Amazon channels, as well as through a network of more than 42,000 health professionals.
Thorne Healthtech was founded in 1984 and booked $162 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol THRN. BofA Securities, Cowen, Evercore ISI, and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of September 20, 2021.
