E.l.f. Beauty is preparing a secondary offering.

The beauty company’s stock jumped immediately after its September initial public offering, and the share price has remained relatively stable since, closing at $26.63 on Wednesday. The shares offered will be sold by stockholders of E.l.f. with none of the proceeds going to the company. The offering is for seven million shares. In addition, certain selling stockholders are expected to grant the underwriters a 30-day option to purchase up to an additional million shares of common stock at the public offering price.

The outside of an E.l.f. Cosmetics store in Livingston, N.J. 

E.l.f. was founded in 2004 as an e-commerce operation focused on selling makeup products at low price points. The business eventually branched into retailers, including Target, and is gradually rolling out freestanding E.l.f. stores.

J.P. Morgan Securities LLC and Morgan Stanley & Co. are the joint lead book-running managers for the offering. Piper Jaffray and Wells Fargo Securities are also acting as book-running managers in the proposed offering. William Blair, BMO Capital Markets Corp., Cowen & Co., Stifel, Nicolaus and SunTrust Robinson Humphrey are acting as comanagers in the proposed offering.

MORE BEAUTY STORIES:

E.l.f. Cosmetics Plans Big Impact With Live-stream From SXSW

After 20 Percent Sales Jump, E.l.f. Projects Even Bigger 2017

SheaMoisture’s Beauty Hack Brings Customization to Ulta Beauty

CVS Goes Big in K-Beauty

load comments
blog comments powered by Disqus