Arhaus, a premium home furnishings retailer with 75 locations across the US, announced terms for its IPO on Wednesday.
The Boston Heights, OH-based company plans to raise $355 million by offering 22.9 million shares (44% secondary) at a price range of $14 to $17. At the midpoint of the proposed range, Arhaus would command a market value of about $2.2 billion.
Backed by Freeman Spogli, Arhaus calls itself a lifestyle brand and omni-channel retailer of premium home furnishings, offering a differentiated direct-to-consumer approach and artisan-quality products that embody its emphasis on "livable luxury." Its products are sourced directly from factories and suppliers. The company's direct sourcing network consists of more than 400 vendors, and it has 75 Showrooms across 27 states.
Arhaus was founded in 1986 and booked $639 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol ARHS. BofA Securities, Jefferies, Morgan Stanley, and Piper Sandler are the active bookrunners on the deal, along with bookrunners Baird, Barclays, Guggenheim, William Blair, and Telsey Advisory. It is expected to price during the week of November 1, 2021.
