Rent the Runway Announces Confidential Submission of Draft Registration Statement for Proposed Initial Public Offering
NEW YORK–(COMMERCIAL THREAD) – Rent the Runway announced today that it has confidentially submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission (the “SEC”) regarding the proposed initial public offering of its Class A common shares. The number of shares to be offered and the price range of the proposed offer have not yet been determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offer, solicitation or offer to buy, or sale of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). This announcement is published in accordance with Rule 135 of the Securities Act.
About Rent the Runway
Founded in 2009, Rent the Runway (RTR) is disrupting the multi-billion dollar fashion industry and changing the way women dress with Closet in the Cloud, the first and largest shared designer closet in the world. world. RTR’s mission has remained the same since its founding: to help women feel better every day. With RTR, customers can subscribe, rent à la carte items and resell them in stores of over 750 designer brands. The Closet in the Cloud offers a wide assortment of millions of items for every occasion, from formal wear and accessories to ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, sportswear, ski wear, household items and children’s clothing. RTR has built a two-way discovery engine, which connects deeply engaged customers and differentiated brand partners on a powerful platform built around its brand, data, logistics and technology. Under the leadership of CEO and co-founder Jennifer Hyman, RTR was named five times in CNBC’s “Disruptor 50” in ten years, and was placed four times on Fast Company’s Most Innovative Companies list, while Hyman herself was appointed to the “TIME 100: The Most Influential People in the World ”and as one of People magazine’s“ Women Who Change the World ”.