August 05, 2021
European Wax Center, Inc. (EWC), the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States, has announced the pricing of its initial public offering of 10,600,000 shares of its Class A common stock, including 1,684,794 shares of Class A common stock to be sold by certain existing stockholders, at a price to the public of US$17 per share.
EWC and certain of its existing stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,590,000 shares of EWC’s Class A common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the Nasdaq Global Select Market on August 5, 2021 under the ticker symbol “EWCZ,” and the offering is expected to close on August 9, 2021, subject to customary closing conditions.
Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by New York partners Marc Jaffe, Ian Schuman, and Alison Haggerty, with New York associates Shawn Quinn and Alexandra Kustra. Advice was also provided on tax matters by New York partner Jocelyn Noll, with New York associate Ted Gkoo; on benefits and compensation matters by New York partner Bradd Williamson, with New York associates Anne Bracaglia, Max Raskin, and Hanna Downing; and on healthcare and life sciences matters by Washington, D.C. partner Elizabeth Richards, with Washington, D.C. associate Elizabeth Annis.