Sock Maker Bombas to Explore an Initial Public Offering
(Bloomberg) -- Bombas, a maker of socks and other apparel, is exploring a U.S. initial public offering, according to people with knowledge of the matter.
The New York-based company, a certified B Corporation, could pursue a listing as soon as this year, said one of the people, requesting anonymity discussing private talks. The firm has held discussions with potential underwriters, the people said. Bombas’ targeted valuation couldn’t immediately be learned. Timing hasn’t been finalized and the retailer could opt to remain private or pursue other alternatives.
Bombas representatives didn’t immediately respond to requests for comment.
The company, co-founded by Randy Goldberg and Chief Executive Officer David Heath, says it donates a clothing item for every item purchased by a customer, and has donated more than 50 million pieces of clothing to help the homeless, according to its website.
Its investors include Great Hill Partners, Irving Investors, Vanterra Capital and Third Point Ventures, PitchBook data shows.
Other B Corporations like Lemonade Inc., Allbirds Inc., AppHarvest Inc. and Vital Farms Inc. trade on U.S. exchanges. B Corporation’s sustainability certification is considered the global gold standard for companies that aren’t in an obvious green sector.
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