Reformation Inc. (“Reformation”), the global womenswear brand, today announced the launch of its roadshow for the initial public offering of 14,062,500 shares of its common stock. Reformation is offering 9,478,821 shares of common stock and certain of its existing stockholders (the “Selling Stockholders”) are offering 4,583,679 shares of common stock. In connection with the offering, the Selling Stockholders are expected to grant the underwriters a 30-day option to purchase up to an additional 2,109,375 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $15.00 and $17.00 per share. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or other terms of the offering. Reformation has been approved to list its common stock on the New York Stock Exchange under the ticker symbol “REF.”
J.P. Morgan and Morgan Stanley are acting as joint lead bookrunning managers, and Citigroup and RBC Capital Markets are acting as joint bookrunning managers on the proposed offering. Guggenheim Securities, Baird, William Blair and BTIG are acting as additional bookrunning managers on the proposed offering. Telsey Advisory Group is acting as co-manager on the proposed offering.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the proposed offering, when available, may be obtained by visiting EDGAR on the website of the Securities and Exchange Commission (“SEC”) at www.sec.gov. Alternatively, copies of the preliminary prospectus, when available, may be obtained from: J.P. Morgan Securities LLC, Attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; and Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014.
A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.