Company News, Financial News

Oddity Has Successful First Day on Nasdaq

Ends first day at $47.53, significantly above its initial range of $27-30 and its revised filing range of $32-34, too.

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By: Christine Esposito

Editor-in-Chief

Oddity began trading yesterday on the Nasdaq under the ticker “ODD.” The company announced its intent to file in June.

According to L Catterton, which has a stake in the company, the offering was heavily oversubscribed, leading Oddity to price at $35 per share, significantly above the initial range of $27-30 and above the revised filing range of $32-34.

Oddity began trading at $49.10 and closed at $47.53.

At the IPO price, the company had an initial market capitalization of approximately $2.3 billion.

Oddity is the the parent company of beauty and wellness brands Il Makiage and SpoiledChild.

L Catterton initially invested in Oddity in 2017.

Since that investment, Il Makiage has captured significant market share in the fragmented complexion category, according to L Catterton. According to reports, SpoiledChild generated $26 million in net revenues in 2022 and is scaling even faster than Il Makiage.

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