Is this U.S.-China selloff a buy? A top Wall Street voice weighs in
LEHI, Utah - Pattern Group Inc., a company specializing in ecommerce marketplace acceleration, announced the pricing of its initial public offering (IPO) at $14.00 per share. The offering consists of 21,428,572 shares of Series A common stock, evenly split between newly issued shares from Pattern and existing shares from current stockholders. According to InvestingPro data, the company enters public markets with strong fundamentals, including a healthy 43% gross profit margin and annual revenue of $2.1 billion.
The company’s shares begin trading today on the Nasdaq Global Select Market under the ticker symbol "PTRN." The offering is expected to close on September 22, subject to customary closing conditions.
Pattern will not receive any proceeds from the 10,714,286 shares being sold by existing stockholders. Additionally, certain selling stockholders have granted underwriters a 30-day option to purchase up to an additional 3,214,285 shares at the IPO price, less underwriting discounts and commissions. InvestingPro analysis reveals the company maintains a strong financial position with a current ratio of 2.28, indicating ample liquidity to meet short-term obligations.
Goldman Sachs & Co. LLC and J.P. Morgan are serving as lead book-running managers for the offering, with Evercore ISI and Jefferies acting as joint book-running managers. Several other firms including Baird, BMO Capital Markets, KeyBanc Capital Markets, Needham & Company, Stifel, and William Blair are participating as additional book-running managers.
Pattern describes itself as a company that helps brands grow on global ecommerce marketplaces using proprietary technology and artificial intelligence. The company reports working across more than 60 global marketplaces including Amazon, Walmart.com, Target.com, eBay, Tmall, TikTok Shop, JD, and Mercado Libre. For deeper insights into Pattern’s financial health and growth prospects, including additional ProTips and detailed metrics, investors can access comprehensive analysis through InvestingPro.
This information is based on a press release statement from Pattern Group Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.