Reformation Files for NYSE IPO with Price Range of $15 to $17 Per Share

Reformation Inc. has filed for an initial public offering (IPO) of its common stock, with plans to list on the New York Stock Exchange under the ticker symbol REF. The company and its selling stockholders are offering a total of 14,062,500 shares at an anticipated price range of $15.00 to $17.00 per share.

Offering Details

The IPO consists of two parts: 9,478,821 primary shares being offered by Reformation Inc. itself and an additional 4,583,679 secondary shares being sold by existing stockholders. At the midpoint of the proposed price range ($16.00), the total offering could raise approximately $225 million.

Based on the filing, Reformation will not receive any proceeds from the sale of shares by the selling stockholders. The capital raised from the primary shares is intended for the company, while the secondary offering allows early investors and insiders to liquidate a portion of their holdings.

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Underwriters and Market Implications

A consortium of investment banks is managing the offering, with J.P. Morgan and Morgan Stanley serving as lead underwriters. The syndicate also includes Citigroup, RBC Capital Markets, Guggenheim Securities, Baird, William Blair, and BTIG.

The public debut will be a key test of investor appetite for consumer retail brands in the current market. Proceeds from the primary offering are typically used to fund corporate purposes such as growth initiatives, debt repayment, and operational expansion, which will be detailed further in the company's prospectus.