Jessica Alba’s Honest Co. Seeking $439 Million in IPO

(Bloomberg) -- The Honest Co. and its shareholders are seeking as much as $439 million in its U.S. initial public offering.

The personal care brand, co-founded by actress Jessica Alba, will offer 6.5 million shares, while existing investors will sell 19.4 million, according to a Monday filing with the U.S. Securities and Exchange Commission. The shares are being offered at $14 to $17 each.

At the top end of the range, Honest would have a market value of $1.5 billion, according to the number of shares outstanding listed in the filing.

Selling shareholders include private equity firm L Catterton, Institutional Venture Partners, Lightspeed Venture Partners and General Catalyst, the filing showed.

On top of its baby products like shampoos, the company also sells cosmetics as well as cleaning supplies, a collection that was launched during the pandemic.

“When the Covid-19 pandemic hit and we went into lockdown, people became more aware of their health and what they bring into their homes,” Alba said in a letter to investors.

Morgan Stanley, JPMorgan Chase & Co. and Jefferies Financial Group Inc. are advising the company. It is expected to trade under the symbol HNST.

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