Casper Sleep Inc, CEO Philip Krim discusses his company’s strong growth and his plan to launch more brick-and-mortar locations.
Casper Sleep Inc. shares spiked 29 percent in their New York Stock Exchange debut on Thursday morning.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CSPR | CASPER SLEEP INC | 15.00 | +0.50 | +3.47% |
The New York-based online mattress retailer priced 8.35 million shares at $12 apiece, the bottom end of its expected range, on Wednesday evening, raising $100.2 million. Earlier Wednesday, shares were expected to price between $17 and $19 apiece.
At $12 a share, Casper is valued at $470 million, about half of what was expected a year ago.
Through the first nine months of 2019, Casper lost $67.4 million on sales of $312.3 million, according to a regulatory filing.
Morgan Stanley, Goldman Sachs and Jefferies served as joint lead book-running managers for the offering.
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Casper shares trade under the ticker CSPR.
