YogaWorks, Inc. made its public debut today, pricing 7.3 million shares at $5.50 each. The company managed to raise $40.2 million. However, shares of YogaWorks have already fallen 14% in midday trading.
This was YogaWorks’ second attempt at an IPO after deciding to delay its public debut on July 20th. At the time, the company cited poor market conditions.
YogaWorks managed to make a comeback to an IPO by offering its shares for a lower price. When the company originally filed with the U.S. Securities and Exchange Commission, YogaWorks wanted to offer 5 million shares at a price between $12 and $14. That would have allowed the company to raise up to $70 million.
Founded in 1987, YogaWorks is the first public yoga studio chain. The company has 50 studios across the U.S. in six metropolitan areas. In 2016, YogaWorks reported having more than 225,000 practitioners and 2.9 million visits.
Despite its success in becoming publicly traded, shares of YogaWorks are down 14% in midday trading. The company has caused concerns for some investors because it has posted net losses in the last two years.
However, because 40% of YogaWorks’ students are millennials, the company believes it has plenty of room for growth.
If investors remain interested in YOGA, the underwriters have been granted a 30-day option to purchase an additional 1.095 million shares. The closing of the offering is expected to occur on August 16th.
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YogaWorks (YOGA) Completes Its Discounted IPO, Raises $40.2 Million
YogaWorks, Inc. made its public debut today, pricing 7.3 million shares at $5.50 each. The company managed to raise $40.2 million. However, shares of YogaWorks have already fallen 14% in midday trading.
This was YogaWorks’ second attempt at an IPO after deciding to delay its public debut on July 20th. At the time, the company cited poor market conditions.
YogaWorks managed to make a comeback to an IPO by offering its shares for a lower price. When the company originally filed with the U.S. Securities and Exchange Commission, YogaWorks wanted to offer 5 million shares at a price between $12 and $14. That would have allowed the company to raise up to $70 million.
Founded in 1987, YogaWorks is the first public yoga studio chain. The company has 50 studios across the U.S. in six metropolitan areas. In 2016, YogaWorks reported having more than 225,000 practitioners and 2.9 million visits.
Despite its success in becoming publicly traded, shares of YogaWorks are down 14% in midday trading. The company has caused concerns for some investors because it has posted net losses in the last two years.
However, because 40% of YogaWorks’ students are millennials, the company believes it has plenty of room for growth.
If investors remain interested in YOGA, the underwriters have been granted a 30-day option to purchase an additional 1.095 million shares. The closing of the offering is expected to occur on August 16th.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think. See This Ticker Free >>