Financial News: KinderCare Learning Companies Eyes $23-27 IPO for 24 Million Shares
New IPO Announced for KinderCare Learning Companies
KinderCare Learning Companies, a leader in child-care services, is set to make its mark in the IPO market with a planned offering of 24 million shares at an estimated price range of $23 to $27. This move comes at a significant time as the IPO market rebounds from last year's downturn.
Company Overview
- Company Name: KinderCare Learning Companies
- Underwriters: Goldman Sachs, Morgan Stanley, Barclays, JP Morgan
- Target NYSE Symbol: KLC
- Projected Offering Value: Up to $648 million
The proceeds are intended to cover outstanding loans and other expenses, reinforcing KinderCare's stability in the education industry.
Financial Performance
- Revenues: Increased to $1.34 billion from $1.27 billion year-on-year.
- Net Income: Reported at $26.78 million, down from $71.70 million in the previous year.
- Adjusted EBITDA: Rose to $160.8 million from $146.5 million.
The company, with over 1,500 centers nationwide, targets children from six weeks to 12 years old and sees a bright future in childhood education.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.