Shares of FIGS (NYSE:FIGS) stock began trading on Thursday after the firm announced its upsized initial public offering (IPO) on Wednesday. That said, the FIGS IPO is already exciting investors, as the stock is soaring.
This marks another IPO in 2021, which has welcomed a number of firms going public in the first five months of the year. However, if you don’t work in the healthcare industry, you may not know what FIGS is or what it does.
So, with that in mind, let’s dive in and take a closer look at the company and the FIGS IPO.
- Based in Santa Monica, FIGS is a “healthcare apparel and lifestyle brand” founded in 2013.
- The firm makes a number of different items for both men and women, ranging from scrubs and lab coats to face masks and shields.
- The FIGS IPO features 26,386,363 shares of its Class A common stock at a price to the public of $22 per share.
- According to the release, FIGS is offering 4,636,364 shares, and Tulco, LLC (Tulco) — FIGS’ largest stockholder — is offering 21,749,999 shares of the total common stock.
- Additionally, shares are trading on the New York Stock Exchange.
FIGS stock was up 35.4% as of Thursday afternoon.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.