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Lather, rinse, IPO: Hair care brand Olaplex Holdings sets terms for $1 billion IPO

September 20, 2021
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Olaplex Holdings, which sells hair care products containing a patented repair ingredient, announced terms for its IPO on Monday.

The Santa Barbara, CA-based company plans to raise $1.0 billion by offering 67 million shares (100% secondary) at a price range of $14 to $16. At the midpoint of the proposed range, Olaplex Holdings would command a fully diluted market value of $10.4 billion.

Olaplex offers treatment, maintenance, and protection hair care products which it claims can repair disulfide bonds in human hair that are destroyed via chemical, thermal, mechanical, environmental, or aging processes. The company offers nine products, all centered around its patent-protected Bis-amino ingredient. The company sells its products to professionals, including two products available only to professional hairstylists, as well as to specialty retail, and direct-to-consumer. 

Olaplex Holdings was founded in 2014 and booked $453 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol OLPX. Goldman Sachs, J.P. Morgan, Morgan Stanley, Barclays, BofA Securities, Evercore ISI, Jefferies, and Raymond James are the joint bookrunners on the deal. It is expected to price during the week of September 27, 2021.