: Oddity Tech raises IPO price range to $32 to $34 a share vs. $27 to $30 previously

Oddity Tech ODD, , an Israeli consumer tech platform for the beauty and wellness market, raised the proposed price range for its initial public offering on Monday to $32 to $34 from $27 to $30 previously. The company is planning to offer 10.5 million shares and would raise $357 million at the top of that range at a valuation of $1.9 billion. Goldman Sachs, Morgan Stanley and Allen & Co. are lead underwriters in a team of eight banks working on the deal. The company had net income of $19.6 million in the quarter through March 31, up from $3.0 million in the year-earlier period. Revenue rose to $165.7 million from $90.4 million. Proceeds will be used for working capital and for developing new brands and other general corporate purposes. The Renaissance IPO ETF IPO has gained 41.4% in the year to date, while the S&P 500 SPX has gained 17%.

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