Brilliant Earth Group, a digital-first retailer of ethically sourced fine jewelry, announced terms for its IPO on Tuesday.
The San Francisco, CA-based company plans to raise $250 million by offering 16.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Brilliant Earth Group would command a fully diluted market value of $1.4 billion.
Brilliant Earth states that it is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company offers a collection of premium-quality diamond engagement and wedding rings, gemstone rings, and fine jewelry, conceptualized by its in-house design studio and then brought to life by expert jewelers. Brilliant Earth has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.
Brilliant Earth Group was founded in 2005 and booked $323 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol BRLT. J.P. Morgan, Credit Suisse, Jefferies, Cowen, KeyBanc Capital Markets, Piper Sandler, William Blair, and Telsey Advisory Group are the joint bookrunners on the deal. It is expected to price during the week of September 20, 2021.
