Company Overview - Pattern Group Inc. is an e-commerce firm that specializes in reselling goods on marketplaces like Amazon.com, ranking second in the US marketplace based on recent data [1][4] - The company was founded in 2013 by David Wright and Melanie Alder and offers services including inventory purchasing, fulfillment management, and marketing support for brands [6] IPO Details - The company and its investors raised $300 million in an initial public offering (IPO), pricing shares at $14 each, which is in the middle of the marketed range of $13 to $15 [2][8] - A total of 21.43 million shares were sold, with half offered by Pattern and the other half by its backers [2] Financial Performance - For the six months ending June 30, Pattern reported a net income of $32.1 million on revenue of $1.1 billion, compared to a net income of $22.6 million on revenue of $841.3 million in the same period the previous year, indicating significant growth [5] Market Valuation - At the IPO price, Pattern has a market value of approximately $2.5 billion based on outstanding shares [3] Shareholder Structure - Post-IPO, the co-founders are expected to retain 86.5% of shareholder voting power, with Knox Lane and Banner Capital holding 4.7% and 2.5% respectively [7] Underwriters and Trading - The IPO is being led by Goldman Sachs Group Inc. and JPMorgan Chase & Co., with shares expected to begin trading on the Nasdaq Global Select Market under the symbol PTRN [8]
E-commerce Firm Pattern to Price IPO at $14 Each, Mid-Range