Jessica Alba-backed Honest Company IPO raises $412.8 million

By Reuters2 days ago

Reuters. FILE PHOTO: Actress and founder of the Honest Company Jessica Alba poses as she arrives for the 20th Annual Webby Awards in Manhattan, New York, U.S., May 16, 2016. REUTERS/Mike Segar

By Echo Wang

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(Reuters) -Honest Company Inc, the consumer goods company founded by actress Jessica Alba, priced its initial public offering (IPO) on Tuesday slightly above the midpoint of its indicated range, raising $412.8 million, a person familiar with the matter said.

Honest sold 25.8 million shares at $16 each, the source said, requesting anonymity ahead of an official announcement. The company had previously indicated shares could be sold in the IPO at $14-$17 apiece.

The IPO values Honest at $1.44 billion.

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