CVSL (CVSL) plans to raise $60 million in an IPO on Tuesday, November 25th. The company will issue 6,700,000 shares at $8.00-$10.00 per share.
In the last year, CVSL generated $111.3 million in revenue and had a net loss of $11.1 million. CVSL has a market-cap of $445.4 million.
Cantor Fitzgerald, JMP Securities and Janney Montgomery Scott served as the underwriters for the IPO and Feltl and Company and National Securities Corporation were co-managers.
CVSL provided the following description of their company for its IPO: “(Note: Not an IPO – “Our common stock is traded on the OTCQX Marketplace, operated by the OTC Markets Group, under the symbol “CVSL.”)
We operate a multi-brand direct selling/micro-enterprise company that employs innovative operational, marketing, social networking and e-commerce strategies to drive a high-growth global business.
We are engaged in a long-term strategy to develop a large, global, diverse, company that combines the entrepreneurship, innovation and relationship-based commerce of micro-enterprise with the infrastructure and operational excellence of a large scale company. We are building an online “community” consisting of a growing number of entrepreneurs and their customers, who can share various economic benefits of membership.
Our growth is supported by a highly disciplined acquisition strategy focused on