: Oddity Tech to raise up to $315 million in IPO at valuation of $1.7 billion

Oddity Tech ODD, an Israeli consumer tech platform for the beauty and wellness market, set terms for its initial public offering on Monday, with plans to offer 10.5 million shares priced at $27 to $30 each. The company would raise $315 million at the top of that range at a valuation of $1.7 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 32.5% in the year to date, while the S&P 500 SPX has gained 15%.

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