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Mattress Company Casper Sleep Files For IPO

Mattress Company Casper Sleep Files For IPO

Casper Sleep Inc. on Friday filed the regulatory paperwork for an initial public offering. The company has applied to have its stock listed on the NYSE under the ticker symbol "CSPR."

The mattress company was founded in 2014 and is based in New York.

Casper Sleep has not determined the number of shares it plans to offer or the price the IPO is expected to price at. The company highlights the global sleep economy is estimated to be worth $432 billion in 2019, growing at a CAGR of 6.3% to $585 billion by 2024. The company forecasts the U.S. sleep economy to be $79 billion in 2019, growing at a CAGR of 3.6% to $95 billion by 2024.

"Casper incurred net losses of $92 million and $73 million in 2018 and 2017, respectively," CNN reported. "Despite having few stores compared to its rivals, Casper pays a lot of money in shipping, which is a pricey business. The company says it believes it will continue to lose money in the future."

Morgan Stanley, Goldman Sachs and Jefferies will be the lead underwriters.

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