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Rent the Runway seeks to sell more than 17 million shares at $21 apiece in IPO

Economy, Finance

Fashion rental company Rent the Runway Inc. is seeking to sell more than 17 million shares at $21 apiece, according to an amended initial public offering filing late Monday. The Brooklyn, N.Y.-based company filed for its IPO earlier this month. The company listed losses of $7.44 a share in the six months ended in July, compared with a loss of $7.91 a share in the same period in 2020. Revenue in the first six months of this year fell to $80.2 million, from $88.5 million in the same period a year ago. Rent the Runway plans to trade on the Nasdaq under the ticker RENT, and Goldman Sachs & Co. and Morgan Stanley are among the underwriters. Board members include actress, author and Goop founder Gwyneth Paltrow and Nike Inc. vice president Melanie Harris.

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