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Stitch Fix to sell 10 mln shares at US!8 to US$20 each as part of IPO

The online clothing company said it is targeting to raise US$190mln at the midpoint of the range
online clothing store
The company plans to list on Nasdaq.

Stitch Fix (NASDAQ:SFIX) has unveiled its IPO plans, saying that it will be selling a total of 10 million shares at between US$18 to US$20 apiece, as part of its Initial Public Offering.

The online personal styling company said it is targeting to raise US$190mln at the midpoint of the range.

Plans for Nasdaq listing

Goldman Sachs, Barclays, Piper Jaffray, J.P. Morgan, RBC, William Blair and Stifel have been appointed underwriters on the deal.

Under the IPO, Stitch Fix proposes a dual-class share structure. Class A holders will have one vote per share, while Class B shares will have 10 votes and the shares are convertible at any time into Class A stock.

The company plans to list on Nasdaq.

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