NEW YORK - ODDITY Tech Ltd. (NASDAQ:ODD), a consumer technology company known for its digital-first approach in the beauty and wellness sectors, is set to witness a secondary public offering of 4,000,000 Class A ordinary shares.
The shares are currently held by a fund managed by private equity firm LÂ Catterton, which also plans to offer the underwriters a 30-day option to purchase up to an additional 600,000 shares.
ODDITY itself is not selling any shares and will not receive any proceeds from this transaction. The offering is being managed by a team of prominent financial institutions, with Goldman Sachs & Co (NYSE:GS). LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co (NYSE:MS). LLC, Allen & Company LLC, Evercore Group L.L.C., and Barclays acting as joint lead book-running managers.
The sale of the shares is contingent upon the effectiveness of a registration statement filed with the Securities and Exchange Commission (SEC). As of now, the registration statement has been filed but is not yet active, meaning that the securities cannot be sold nor offers to buy be accepted until the statement becomes effective.
ODDITY's business model focuses on leveraging artificial intelligence and data science to pinpoint consumer needs and rapidly bring to market beauty and wellness products. The company, which owns brands such as IL MAKIAGE and SpoiledChild, caters to a user base of approximately 50 million. With its headquarters in New York City, ODDITY also maintains an R&D center in Tel Aviv, Israel, and a biotechnology lab in Boston.
The proposed offering is only available through a prospectus, details of which can be obtained from the offices of the managing financial institutions.
This news article is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy any securities.
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