Brilliant Earth Group, a digital-first retailer of ethically sourced fine jewelry, raised $100 million by offering 8.3 million shares at $12, below the range of $14 to $16. The company offered 8.3 million fewer shares than anticipated.
Brilliant Earth states that it is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company offers a collection of premium-quality diamond engagement and wedding rings, gemstone rings, and fine jewelry, conceptualized by its in-house design studio and then brought to life by expert jewelers. Brilliant Earth has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.
Brilliant Earth Group plans to list on the Nasdaq under the symbol BRLT. J.P. Morgan, Credit Suisse, Jefferies, Cowen, KeyBanc Capital Markets, Piper Sandler, William Blair, and Telsey Advisory Group acted as joint bookrunners on the deal.
