As the world focused on the violence and political chaos in Washington, D.C., other areas of the federal government continued on, allowing the engines of commerce to churn.
The company has been on a mandated silent period, so it declined requests for comment. But according to the details filed with the SEC, Poshmark plans to offer 6.6 million shares of class A common stock priced at $35 to $39. Underwriters on the deal include Morgan Stanley, Goldman Sachs and Barclays. Shares will hit the Nasdaq Global Select Market under the symbol POSH.
The company, which employs 501 workers, shot into profitable territory in 2020. After reporting losses of $34 million between January and September 2019, Poshmark posted nearly $21 million in income for the same period last year. Revenue grew to $192.8 million, for a spike of 28 percent.
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