Mister Car Wash shares close above IPO price - Professional Carwashing & Detailing

Mister Car Wash shares close above IPO price

NEW YORK — After its debut, shares rose 49% above its initial public offering price.

NEW YORK — According to www.finance.yahoo.com, Mister Car Wash (NYSE: MCW) made its public debut on Monday, June 28, 2021 and raised $468 million as shares rose to $22.40, 49% above its initial public offering (IPO) price of $15.

As the only publicly traded company in its business category, the offering proved unique.

As of Tuesday the 29th, Mister had a total market capitalization of $6.277 billion, which placed it solidly in mid-cap territory.

Mister priced its shares at the lower end of the anticipated $15 to $17 range and offered 37.5 million shares of common stock, with 31.25 million shares offered by the company and 6.25 million by existing shareholders.

Those shareholders included entities affiliated with Leonard Green & Partners, a private equity firm that has owned the company since 2014.

As with many offerings, the investment-banking underwriters have a 30-day option to purchase an additional 5.625 million shares.

Mister does not receive proceeds from shares sold by existing stockholders.

Read the original article here.

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