Honest Co. sets IPO terms, as company founded by Jessica Alba could be valued at up to $1.5 billion

The Honest Company Inc. has set terms of its initial public offering, in which the consumer products company founded by Jessica Alba could be valued at up to $1.54 billion. The company disclosed Monday that the IPO is expected to price between $14 and $17 a share. A total of 25.81 million shares are being offered in the IPO, with the company offering 6.45 million shares to raise up to $109.7 million and selling shareholders offering 19.36 million shares to raise up to $329.0 million. The company expects to have 90.52 million shares outstanding after the IPO. The stock is expected to list on the Nasdaq under the ticker symbol “HNST.” Morgan Stanley, J.P. Morgan and Jefferies are the lead underwriters. Honest Co. is looking to go public at a time that the Renaissance IPO ETF has slipped 7.4% over the past three months while the S&P 500 has gained 8.6%.

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