e.l.f. Beauty announces IPO terms

CEO Tarang Amin added chairman of the board to his list of responsibilities with the company in August of last year. And he was then quite confident in the company’s growth potential: calling e.l.f. “a vibrant brand” ​and remarking that “a great opportunity exists for it to become a global powerhouse.” ​

Back in November, Cosmetics Design reported on the prospect of an e.l.f. IPO​, sharing news that the company had teamed up with underwriters to facilitate the move. Those banks, it turns out, are J.P. Morgan and Morgan Stanley.

Then, late last month, e.l.f Beauty filed its intentions to go public with the SEC, charting plans to apply for a listing on New York Stock Exchange under the ELF symbol. And now, the company has clarified the terms of its offering.

Figures and dollars​

e.l.f. proposed a $16.00 maximum IPO price per share and estimates the IPO price between $14.00 and $16.00. The initial filing put the number of shares at just over 8.3 million. While, the amendment filed yesterday ups that number to 9.58 million shares.

All told, e.l.f. is looking to raise $153m.

Investment property ​

J.A. Cosmetics (and its parent company TPG Capital) has owned e.l.f since 2014, when it paid somewhere between $200m and $300m for the brand, according to reuters.com.

e.l.f is a fast growing mass market brand, retailing low-cost color cosmetics in stores like Target, the brand’s own shops, and online—just the sort of brand J.A. does business with.

Previously J.A. Cosmetics sold NYX Cosmetics to L’Oréal and Too Faced Cosmetics to General Atlantic (a growth equity investment firm).