Online mattress retailer Casper’s IPO valuation tumbles from peak of $1bn
27 January 2020 - 18:29
San Francisco — Online mattress retailer Casper Sleep plans to raise up to $159m in its initial public offering (IPO), setting up a test of investor appetite for pioneering firms whose losses have grown with their revenue.
The New York-based company said in a filing on Monday that it planned to sell 8.35-million shares for $17 to $19 each. At the top end of the range and excluding the over-allotment option for underwriters, the company would be valued at just over $744m — a drop from a previous assessment of $1.1bn...
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