Jessica Alba's The Honest Company said today it would list on Nasdaq in an initial public offering valued over $1.5 billion. The Los Angeles-based company said in its filing with the Securities and Exchange Commission that it was offering around 25.8 million shares between $14 and $17 each. Honest would receive around $110 million at the upper end of the range, excluding proceeds from shares offered by stockholders.
The company said it was planning to use the proceeds from the offering to fund marketing and direct-to-consumer advertising, as well as launch new products and buy complementary businesses.
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