E-commerce Firm Pattern Targets $14 IPO Price

E-commerce firm Pattern Group Inc., along with some of its investors, successfully raised $300 million through an initial public offering (IPO), as reported by Bloomberg News. The company, which specializes in reselling goods on various online marketplaces such as Amazon.com Inc., set its IPO price at $14 per share. This price falls within the midpoint of the initially marketed range of $13 to $15 per share. Pattern Group Inc., headquartered in Lehi, Utah, and its investors collectively sold 21.43 million shares. Half of these shares were offered by Pattern, while the remaining half were offered by its investors.