Cariloha, a bamboo-based bedding, clothing, and bath goods brand, announced terms for its IPO on Wednesday.
The Sandy, UT-based company plans to raise $30 million by offering 2.3 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Cariloha would command a fully diluted market value of $162 million.
Cariloha is an omnichannel brand focused on sustainable bedding, clothing, and bath goods made of eco-friendly viscose-from-bamboo. The company markets and sells its products through its e-commerce channel, showrooms, and wholesale channel. As of September 30, 2021, its bedding category (68% of 9mo21 revenue) offered 184 SKUs priced from $25 to $2,900; its apparel category (18%) offered 6,959 SKUs priced from $10 to $89; and its bath category (6%) offered 39 SKUs priced from $24 to $120.
Cariloha was founded in 2007 and booked $49 million in sales for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol ALOHA. Roth Capital and Oppenheimer & Co. are the joint bookrunners on the deal.
