Today marks the latest in the fall IPO season as another company poised to become a leader in its industry makes its public debut. Olaplex Holdings (NASDAQ:OLPX) is a producer of hair care products designed to repair and strengthen damaged hair as well as protect and enhance hair of all types. The company claims that the technology it employs works on a molecular level to repair hair bonds that are either damaged or broken. So far, it has been a good day for OLPX stock.
Olaplex shares began trading on the Nasdaq this morning at $25 apiece and rose from there, quickly hitting a peak of $26.50. Although it has dipped slightly, OLPX stock is still up more than 16% as of this writing.
So far things are going well for the company, whose initial plan had been to offer up 67 million shares priced between $14-$16. Olaplex then raised that range to $17-$19. The first shares sold, though, were priced at $21 each, netting a cool $1.55 billion. At the time trading began, the company’s valuation was $16.4 billion.
What else should investors know about this company as it embarks on its trading journey? Let’s find out.
OLPX Stock: What to Know About This IPO
- Founded in 2014 out of a garage, Olaplex is based in Santa Monica, California. As of now, it employs 82 full-time staff members.
- Company founder and former CEO Dean Christal came from the world of hair care. His mother worked as a hair stylist and salon owner while his father owned and operated a chain of beauty product stores.
- Olaplex’s early investors include private equity firm Advent International.
- Aside from producing high-end shampoos, conditioners, specialty oils and moisture masks, the company offers customers the opportunity have their hair condition and problems diagnosed by experts in the field. It claims to be able to provide a personalized approach to customers seeking hair repair solutions.
- Olaplex claims that the ingredient that makes its work possible is the Bis-Aminopropyl Diglycol Dimaleate, which forms the cornerstone of its patented technology. It holds over 100 other patents.
- Many celebrities from the hair and beauty field serve as brand ambassadors for Olaplex, including hair colorists Tracey Cunningham and Chad Kenyon, as well as YouTube sensation Guy Tang.
- Olaplex has a global reach and can be found in over 100 countries. The company plans to expand operations further and allow anyone to find a stylist certified in its products near them through a website tool.
- As a pioneer within a growing sector, Olaplex prioritizes sustainability in both its products and operations. It claims its formulas are made through cruelty-free means and with only non-toxic chemicals.
- The company believes that all its peers have a responsibility to reduce their carbon footprint through sustainable practices.
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
