- July 27, 2021
- Posted by: Stratford Team
- Category: Business
ThredUp Inc.
TDUP,
+3.23%
slumped 4.3% in Tuesday premarket trading after the resale company made a number of announcements throughout Monday, including a business update and the launch of a public offering. ThredUp said during after-hours Monday that it would launch a public offering of 6,424,369 shares of Class A stock, including 2 million shares that will be issued and sold by the company, and 4,424,369 shares from existing stockholders. The selling stockholders will give the underwriters 30 days to purchase up to 963,655 additional shares. Goldman Sachs & Co. LLC, Morgan Stanley and Barclays are the lead bookrunners. ThredUp also gave a business update, expecting revenue between $59 million and $60 million, up from $47.3 million last year. The FactSet consensus is for $55.8 million. Net losses are expected to widen to between $14.6 million and $14.4 million from $6.7 million last year. Active buyers are expected…
