Casper Sleep has slashed its valuation ahead of its IPO, which is unsurprising given the firm loses money. Heap on the regulatory scrutiny of M&A deals, and existing investors are in for some restless nights, writes jennifersaba.
Casper Sleep on Feb. 5 reduced the price range for its initial public offering to $12 to $13 a share from an earlier $17 to $19 a share. The online mattress firm hopes to sell 9.6 million shares including the so-called greenshoe option that allows underwriters to sell up to an additional 15% of stock once the initial deal is complete.
At the top end of the range Casper would raise $124.8 million and have a valuation of $531.7 million.
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