Stitch Fix Status
The company raised $120 million in its initial public offering on the NASDAQ stock exchange under the ticker symbol of SFIX on November 17, 2017. A total of 8,000,000 shares were sold at a price of $15 per share. After the offering, there was a total of 95,411,815 outstanding shares (excluding the over-allotment option) priced at $15 per share, valuing the company at $1.43 billion. The total proceeds, before expenses, to the company was 120 million. The underwriters were granted an option to purchase up to an additional 1,200,000 shares from the company to cover over-allotments, if any. The company intends to use the proceeds from the offering for general corporate purposes, including working capital, operating expenses and capital expenditures.