Thursday, August 05, 2021 1:34:51 PM
12:18 pm ET August 5, 2021 (MarketWatch)
European Wax Center Inc. (EWCZ) got a warm reception on Wall Street Thursday, as the hair removal company's stock opened 11.8% above its initial public offering price. The Texas-based company raised $156.56 million as it sold 8.92 million shares in the IPO, which priced at $17 a share, while selling shareholders sold 1.68 million shares to raise $28.64 million. Last week, the company said it was offering 9.04 million shares and selling stockholders were offering 1.56 million shares in the IPO, which was expected to price between $15 and $18 a share. On Thursday, the stock's first trade on the Nasdaq exchange was at $19.00 at 11:47 a.m. Eastern for 1.0 million shares. At that price, the company was valued at about $1.2 billion. Morgan Stanley, BofA Securities and Jefferies were the lead underwriters of the IPO. The company recorded net income of $1.1 million on revenue of $36.7 million for the three months ended March 27, after income of $959,000 on revenue of $32.8 million in the same period a year ago. The company went public at a time of renewed investor interest in IPOs, as the Renaissance IPO ETF (IPO) has rallied 11.7% over the past three months while the S&P 500 has gained 6.1%.
-Tomi Kilgore
(END) Dow Jones Newswires
August 05, 2021 12:18 ET (16:18 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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Recent EWCZ News
- European Wax Center, Inc. to Report First Quarter Fiscal Year 2024 Financial Results on May 15th • GlobeNewswire Inc. • 05/01/2024 11:00:00 AM
- European Wax Center Earns 2024 Great Place to Work Certification™ For A Consecutive Year • PR Newswire (US) • 04/22/2024 12:07:00 PM
- EUROPEAN WAX CENTER NAMED ONE OF THE TOP 20 FASTEST-GROWING FRANCHISES OF 2024 BY ENTREPRENEUR • PR Newswire (US) • 04/04/2024 03:59:00 PM
- EUROPEAN WAX CENTER'S EWC TREAT® INGROWN HAIR MIST WINS 2024 NEWBEAUTY AWARD • PR Newswire (US) • 04/03/2024 03:33:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 08:23:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 08:20:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 08:13:32 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 03/06/2024 03:02:25 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/06/2024 11:04:32 AM
- European Wax Center, Inc. Reports Fourth Quarter and Fiscal Year 2023 Results • GlobeNewswire Inc. • 03/06/2024 11:00:00 AM
- European Wax Center, Inc. Announces Participation in the BofA Securities 2024 Consumer & Retail Conference • GlobeNewswire Inc. • 03/05/2024 01:00:00 PM
- EUROPEAN WAX CENTER RANKED AMONG THE TOP FRANCHISES IN ENTREPRENEUR'S HIGHLY COMPETITIVE FRANCHISE 500® 2024 • PR Newswire (US) • 02/22/2024 01:07:00 PM
- European Wax Center, Inc. to Report Fourth Quarter and Fiscal Year 2023 Financial Results on March 6th • GlobeNewswire Inc. • 02/21/2024 01:00:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 10:00:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:56:59 PM
- European Wax Center, Inc. Provides Update Ahead of Presentation at ICR Conference 2024 • GlobeNewswire Inc. • 01/08/2024 11:00:08 AM
- European Wax Center, Inc. Announces Participation in the ICR Conference 2024 • GlobeNewswire Inc. • 12/21/2023 11:00:00 AM
- European Wax Center, Inc. Announces Participation in the Morgan Stanley Global Consumer & Retail Conference • GlobeNewswire Inc. • 11/28/2023 09:05:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/08/2023 02:52:52 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/08/2023 11:01:12 AM
- European Wax Center, Inc. Reports Third Quarter Fiscal Year 2023 Results • GlobeNewswire Inc. • 11/08/2023 11:00:00 AM
- European Wax Center, Inc. to Report Third Quarter Fiscal 2023 Financial Results on November 8th • GlobeNewswire Inc. • 10/25/2023 12:00:00 PM
- European Wax Center Recognized as a Featured Franchise in The Franchise Times' Exclusive Top 400 Ranking List • PR Newswire (US) • 10/23/2023 02:03:00 PM
- European Wax Center and Spongellé Announce the Biggest Collaboration to Hit Showers in 2023 • PR Newswire (US) • 10/02/2023 03:09:00 PM
- European Wax Center Wins Two Brandon Hall Group Gold Awards in Learning and Development for Center Manager Training • PR Newswire (US) • 09/14/2023 01:45:00 PM
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