Healthcare apparel company Figs Inc. priced its initial public offering at $22 a share Wednesday night, well above its expected range, valuing the company around $4.4 billion on an equity basis, taking into account fully diluted shares.
Figs also expanded its stock offering, increasing the number of shares sold from 22.5 million to 26.4 million, raising nearly $581 million. Shares are expected to begin trading Thursday on the New York Stock Exchange under the ticker “FIGS.”Read more: Figs IPO: 5 things to know about the healthcare apparel company before it goes public
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