Benzinga | Mar 26, 2021 06:36AM EDT

ThredUp To Raise More Than $170M From IPO At $14 Per Share

* Online consignment and thrift store for high-quality second-hand clothes, ThredUp Inc (NASDAQ: TDUP) has priced 12 million shares at the top end of its price range of $14 per share in its initial public offering (IPO).

* ThredUp expects to raise gross proceeds of $168 million. Besides, the underwriters have a 30-day option to purchase additional shares up to 1.8 million.

* The shares are expected to begin trading on the Nasdaq under the symbol "TDUP" today.

* Goldman Sachs & Co. LLC, Morgan Stanley, and Barclays are the lead book-running managers for the offering.