Jessica Alba’s wellness brand The Honest Company Inc. will begin trading today after its initial public offering raised over $412 million, valuing the company at $1.4 billion.
The Honest Co., a clean beauty, baby product, and household company, priced 25.8 million shares at $16 per share, the middle of the $14 and $17 range.
The stock, which trades under the ticker HNST, popped over 40% on its debut.
|HNST||THE HONEST COMPANY INC.||15.65||-0.70||-4.28%|
The "Fantastic Four" actress founded Honest in 2011 selling products like prenatal vitamins, baby products, shampoo and other household items said to be made with clean ingredients and advertised as better alternatives to synthetic chemicals. Alba’s product line is sold at thousands of retail locations including at stores like Target, Costco and on Amazon, among others.
The company has faced some setbacks along the way. In 2016, a lawsuit was filed against the company claiming it "falsely" labeled its cleaning products as natural accusing the brand of using harsh chemicals.
*This story, published on 4/26/21, has been updated.