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Allbirds Aims for $2.2 Billion Valuation for Its IPO

Shares of the shoe company could go for $12 to $14

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Allbirds in SoHo, N.Y. Courtesy of Allbirds, San Francisco

Allbirds (San Francisco) has announced it is targeting a valuation near $2.2 billion for its initial public offering (IPO), according to CNBC, with 19.2 million shares priced between $12 and $14.

As of now no date has been announced for its IPO but it will be listed on the Nasdaq exchange under the ticker BIRD. When Allbirds filed for its IPO in August, it still hadn’t turned a profit.

In the latest quarter its net losses may amount to an estimated $15 to $18 billion for the three-month period that ended Sept. 30. This compares to a loss of $7 million last year. Its revenue for the quarter that ended Sept. 30 will be totaling between $61 and $65.2 million, according to the retailer.

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