Wednesday, May 5, 2021

Honest Co. Raises $413M In IPO, Surges In IPO Debut

Los Angeles-based Honest Co., the lifestyle brand offering up baby, skin, and household products, debuted in its IPO on Wednesday, raising $413M for the company--and bringing yet another Southern California startup to the public markets. Honest Co. priced its IPO last night at $16.00 per share, at the midpoint of its $14.00 to $17.00 estimated IPO range, and surged in trading on Wednesday, up nearly 38% in mid-day trading at over $22.00 per share. Honest Co. now trades on the Nasdaq as HNST. The company's top shareholders are THC Shared Abacus, LP, Institutional Venture Partners, Fidelity, and General Catalyst. The company--which sells health, home, and personal care products--is notable for its involvement of celebrity Jessica Alba, as well as longtime startup veteran Brian Lee.