Level Brands (LEVB) announced the pricing of its initial public offering of 1,700,000 shares of its common stock at a price to the public of $6.00 per share. The shares are expected to begin trading on The New York Stock Exchange on Nov. 17, 2017 under the ticker “LEVB.” In addition, Level Brands has granted the underwriters an option to purchase up to an additional 300,000 shares of common stock on a “best efforts” basis.
Joseph Gunnar & Co. and Tripoint Global Equities, LLC are the joint underwriters for the offering. The company was founded in 2015 and incorporated in North Carolina. Level Brands’ Chairman Emeritus and Chief Brand Strategist is Kathy Ireland, an actress and model who has appeared in 13 consecutive Sports Illustrated swimsuit issues.
Kathy Ireland is the CEO of kathy ireland Worldwide, a global brand founded in 1993 and based in Rancho Mirage, California. In 2015, the company had an estimated $2.5 billion in revenue.