Sustainable womenswear brand Reformation has launched an initial public offering (IPO) of more than 14 million shares of its common stock.  

Reformation is offering nearly 9.5 million shares, while the rest are from some of its existing stockholders. The selling stockholders are also expected to grant the underwriters a 30-day option to purchase an additional 2.1 million shares.

The share prices will be between $15 and $17 apiece. They will be listed on the New York Stock Exchange under the ticker symbol “REF”. 

In its S-1 filing, the company expects to have approximately 59 million shares of common stock outstanding after the offering. It plans to use about $125 million of the net proceeds to partially repay a loan. 

The firm noted that the offering remains subject to market conditions, and there can be no assurance as to whether or when it may be completed.

Founded in 2009, the LA-based sustainable fashion brand is known for merging trendy, ‘sexy chic’ designs with eco-friendly practices. The company operates about 70 retail stores, including 60 in the US, while its e-commerce platform serves customers in more than 150 countries. 

Reformation first announced its proposed IPO in June. Last year, the company recorded a net revenue of about $507 million and a net income of $12.6 million.