ThredUp’s IPO could raise as much as US $ 168 million

The US-based secondhand clothing online retailer ThredUp Inc. is all set to go public this Thursday (25 March)!

The retailer, which had filed an S-1 with the US Securities and Exchange Commission for an initial public offering (IPO) earlier this month,is expected to trade on the NASDAQ under the ticker TDUP.

Also Read: Secondhand apparel retailer ThredUp files for IPO

The expected initial public offering (IPO) price is at US $ 12 to US $ 14 per share, which could raise as much as US $ 168 million.

Reportedly, once the deal is priced on 25 March, ThredUp will trade on Friday (26 March). Morgan Stanley and Goldman Sachs are, notably, the underwriters on the deal.

ThredUp is not the first amongst secondhand clothing retailers to file for IPO recently. Late last year, another US secondhand clothing retailer Poshmark too had filed for an IPO.

It went public in January 2021 with stock more than doubling from its IPO price of US $ 42.

Also Read: Poshmark files for IPO; secondhand clothing retailer makes profit during pandemic

ThredUp has been struggling owing to pandemic wrath as a result of which it had to even cut 20 per cent of salaries last year for many of its corporate staff – though it restored salaries in 2021.

Besides, the retailer saw its yearly losses rise from US $ 38.2 million (in 2019) to US $ 47.9 million (in 2020). And, so it hasn’t been making profits despite its revenue growing by 14 per cent during the year.