Israeli digital beauty and wellness company, Oddity Tech, has successfully priced its upsized initial public offering at $35 per share. This surpasses the previously proposed price range of $32 to $34. The company, known for its popular beauty line Il Makiage, has raised an impressive $423.5 million through the sale of 12.1 million shares. With this valuation, Oddity Tech now stands at a market value of $1.98 billion.
Composition of the Offering
The offering consisted of 1.8 million Class A shares, which carry one voting right, as well as 10.4 million Class B shares sold by selling shareholders. The Class B shares come with 10 votes each. It’s important to note that Oddity Tech will not be receiving any proceeds from the sale made by the selling stockholders.
Trading on Nasdaq
The eagerly anticipated public trading of Oddity Tech shares is set to commence on Nasdaq later today. Investors can find the company listed under the ticker symbol ‘ODD.’
Positive Financial Outlook
Despite being a newcomer in the public market, Oddity Tech has already proven itself as a profitable company with a growing revenue stream.
Industry Comparison
It’s worth mentioning that the Renaissance IPO ETF has experienced a significant 45% increase in value year-to-date. In comparison, the S&P 500 has seen growth of 18.6% over the same period.
Remember to purchase your Oddity Tech shares on Nasdaq today and be part of their exciting journey in the digital beauty and wellness space!
