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The company went public through a traditional IPO by listing 28.50 million shares on the Nasdaq Stock Exchange on May 5. HNST raised $412.80 million from the IPO, which is expected to fund its general corporate expenses.
The stock opened at $21.22, up 32.6% on its first trading day, which was above the $16 pre-listing share price. However, the shares have since declined 12.2% to close Friday’s trading session at $10.07.
