Mister Car Wash Inc.
MCW,
is set to go public Friday, after the profitable Arizona-based carwash chain's initial public offering priced overnight, to value the company at $4.44 billion. The company raised $468.8 million as it sold 31.25 million shares in the IPO, while selling shareholders sold 6.25 million shares to raise $93.8 million. The IPO pricing of $15 a share was at the low end of the expected range of between $15 and $17 a share. The stock is expected to begin trading on the NYSE under the ticker symbol "MCW." BMO Capital and UBS Securities are acting as joint book-running managers. The stock is going public at a time that the Renaissance IPO ETF
IPO,
+0.70%
has rallied 9.3% over the past three months while the S&P 500
SPX,
+0.58%
has gained 9.1%.