Brilliant Earth Group, Inc. (BRLT) Plans to Raise $250 Million in September 23rd IPO

Brilliant Earth Group, Inc. (BRLT) plans to raise $250 million in an initial public offering (IPO) on Thursday, September 23rd, IPO Scoop reports. The company will be issuing 16,700,000 shares at a price of $14.00-$16.00 per share.

In the last 12 months, Brilliant Earth Group, Inc. generated $323 million in revenue and $32.3 million in net income. Brilliant Earth Group, Inc. has a market-cap of $1.4 billion.

J.P. Morgan, Credits Suisse, Jefferies and Cowen acted as the underwriters for the IPO and KeyBanc Capital Markets, Piper Sandler, William Blair and Telsey Advisory Group were co-managers.

Brilliant Earth Group, Inc. provided the following description of their company for its IPO: “Brilliant Earth is an innovative, digital-first jewelry company, and a global leader in ethically sourced fine jewelry. We offer exclusive designs with superior craftsmanship and supply chain transparency, delivered to customers through a highly personalized omnichannel experience. Our mission is to create a more transparent, sustainable, and compassionate jewelry industry, and we are proud to offer customers distinctive and thoughtfully designed products that they can truly feel good about wearing. Our core values resonate strongly across many demographics and particularly with values-driven Millennial and Gen Z consumers. Our extensive collection of premium-quality diamond engagement and wedding rings, gemstone rings, and fine jewelry is conceptualized by our leading in-house design studio and then brought to life by expert jewelers. From our award-winning jewelry designs to our responsibly sourced materials, at Brilliant Earth we aspire to exceptional standards in everything we do. We were founded in 2005 as an e-commerce company with an ambitious mission and a single showroom in San Francisco.  Today, Brilliant Earth has sold to consumers in all U.S. states and over 50 countries, and has served over 370,000 customers through our e-commerce platform and 13 showrooms. From the prospectus: “A majority of our Board of Directors, 73% of employees at the director level and above, and 80% of our total employees are women. 31% of our leadership team and 38% of our total employees identify as a member of a BIPOC community.” Note: Revenue – presented as net sales – and net income figures are for the 12 months that ended June 30, 2021. “.

Brilliant Earth Group, Inc. was founded in 2005 and has 359 employees. The company is located at 300 Grant Avenue, Third Floor San Francisco, California 94108 and can be reached via phone at (800) 691-0952 or on the web at http://www.brilliantearth.com.

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