After a successful year that saw net sales increase from $ 110.5 million in 2019 to $ 263.1 million in 2020 (although given tens of thousands of scrubs to healthcare workers across the country), the clothing startup directly to consumers Figs debut on the market on the New York Stock Exchange this week.

And for the first time, retail investors (the language of the industry for non-professional buyers and sellers) are going to be allowed to try to enter the ground floor by asking to buy shares through Robinhood before debut. . The investment application has just been deployed IPO Access, a tool that allows its users to potentially access company shares at the IPO price, in an effort to democratize an aspect of investing that was traditionally reserved for wealthy investors and professional traders.

The company is offering 22,500,000 Class A common shares between $ 16 and $ 19 per share. This brings Figs a valuation in Unicorn Territory, at $ 3.07 billion. The share offering is split between the 5,875,000 Class A ordinary shares of Figs and 16,625,000 of those of its main shareholder, Tulco. Figs does not receive any proceeds from the sale of Tulco shares. In addition, Tulco is offering 3,375,000 Class A common shares to the underwriters who will have a 30-day purchase option at the IPO price, “less subscription discounts and commissions,” according to a press release. society.

For first-time investors looking to get started with IPOs, Robinhood offers background and background, including a company’s preliminary prospectus, which details its business model, leadership team, and risk factors. In a blog post, Robinhood reiterated his own position to make investing fairer for all: “Shares going public can be very limited, but all Robinhood clients get an equal chance on shares, regardless of order size or value Account.

Figs are expected to start trading on the NYSE under the ticker symbol FIGS later this week.