Casper Sleep sold shares for $12 each in an initial public offering, at the bottom of a lowered price target, according to a person familiar with the matter who asked not to be identified because the information wasn’t public yet.
The bed-in-a-box retailer marketed 8.35 million shares for $12 to $13 each, after reducing the price target earlier Wednesday from $17 to $19. Dow Jones reported the price earlier.
The offering was led by Morgan Stanley, Goldman Sachs Group, and Jefferies Financial Group. The company’s shares are expected to begin trading Thursday on the New York Stock Exchange under the symbol CSPR.
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