European Wax Center Inc, a hair removal services provider, has filed Amendment No 1 to Form S-1 Registration Statement on June 28, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $175 million by offering 10.6 million shares at a price range of $15 to $18. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $1.1 billion.
The company revolutionized the market for out-of-home hair removal services by creating the first professionalized model exclusively focused on providing high-quality waxing experiences for guests.
The Plano, TX-based company was founded in 2004 and booked $107 million in revenue for the 12 months ended March 31, 2021. It plans to list on the Nasdaq Global Select Market under the symbol “EWCZ.” Morgan Stanley, BofA Securities, Jefferies, Citi, Guggenheim Securities, and Truist Securities are underwriters of the IPO.
The company engages Paul, Weiss, Rifkind, Wharton & Garrison LLP as US Securities Counsel, and Deloitte & Touche LLP as Independent Auditor.
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