FIGS valued at $4.57 billion in their market debut. This comes as their shares jumped nearly 29%, which comes from investor interest after the maker of medical scrubs, face masks and shields saw a jump in demand during the COVID-19 pandemic.
The shares opened at $28.30 each, which is up from the offer price of $22 each. The company marks the first listing to be included on Robinhood’s platform, which will give retail investors the opportunity to buy shares in initial public offerings (IPOs). The company’s revenue jumped 138% in 2020. This comes as it ramped up production to meet the needs of healthcare professionals on the frontline of the pandemic.
READ MORE: Arcadia Biosciences Acquires Lief
FIGS priced its offering of more than 26 million of its Class A shares far above its ...