Reformation Prices IPO at $15 Per Share, Raising Over $210 Million

Reformation Inc. has priced its initial public offering (IPO) at $15.00 per share, according to a company press release. The womenswear brand is set to begin trading on the New York Stock Exchange on July 30, 2026, under the ticker symbol REF.

Offering Details

The offering consists of 14,062,500 shares of common stock, raising gross proceeds of approximately $211 million. The shares are split between the company and existing investors:

• Reformation Inc. is offering 9,478,821 shares, raising capital for the company.
• Existing stockholders are selling 4,583,679 shares.

The offering is expected to close on July 31, 2026, subject to customary closing conditions. The U.S. Securities and Exchange Commission (SEC) declared the company's S-1 registration statement effective on July 29, 2026.

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Underwriters and Company Profile

J.P. Morgan and Morgan Stanley are acting as the joint lead bookrunning managers for the offering. A syndicate of other banks, including Citigroup and RBC Capital Markets, are also serving as bookrunners. The underwriters have been granted a 30-day option to purchase up to an additional 2,109,375 shares from the selling stockholders at the IPO price.

Reformation operates 70 retail stores across the United States, United Kingdom, Canada, and France. The company also has a significant e-commerce presence, serving customers in more than 150 countries.