Torrid Holdings Inc. shares
CURV,
+10.12%
soared 13% in their trading debut Thursday, after the direct-to-consumer provider of women's plus-size clothing and intimates by sales' initial public offering priced at $21, the top of a proposed range. The company sold 11 million shares to raise $231 million at a valuation of $2.3 billion, based on the 110 million shares expected to be outstanding after the deal closes. There were eight banks underwriting the deal, led by Morgan Stanley, BofA Securities, Goldman Sachs and Jefferies. For the 12 months ending May 1, 2021, Torrid posted sales of $1.143 billion and net income of $25 million.