February 5, 2020 / 11:00 PM / 20 days ago

Casper prices IPO at low end of target, sees valuation plummet: source

NEW YORK (Reuters) - Casper Sleep Inc (CSPR.N) on Wednesday priced its initial public offering (IPO) at $12 per share, according to a person familiar with the matter, at the low end of its downwardly revised target range.

The IPO valued New York-based Casper at around $470 million, well below the $1.1 billion valuation it attained in a private fundraising round in March. The company had aimed to sell 8.35 million shares at a target price range of $12-$13 per share.

A representative for Casper declined to comment.

Reporting by Joshua Franklin; Editing by Sandra Maler

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