Olaplex Prices Upsized IPO At $21 A Share

Hair products maker Olaplex Holdings Inc has priced its initial public offering (IPO) of 73.7 million shares of its common stock at $21.00 per share.
The company had earlier pegged its IPO price of 67 million shares at $17 - $19 per share, seeking a valuation of up to $12.3 billion based on the expected 648.12 million shares outstanding after the offering.
Investment funds affiliated with private equity firm Advent International Corp will beneficially own about 79.6% of the combined voting power of Olaplex's common stock.
All 73.7 million shares are being offered by certain of its existing stockholders. Olaplex will not receive any proceeds from the sale of the shares by the selling stockholders.
The selling stockholders have granted the underwriters a 30-day option to purchase up to 11.05 million additional shares.
Olaplex shares are expected to begin trading on the Nasdaq Global Select Market on September 30, 2021, under the symbol 'OLPX.'
The offering is expected to close on October 4, 2021.