|CSPR||CASPER SLEEP INC||3.71||-0.10||-2.62%|
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.
Casper shares trade under the ticker CSPR.