Mattress Firm Group Begins IPO Process

Mattress Firm Group Inc. has filed a registration statement with the Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of its common stock, moving closer to a plan it has been discussing for several months, according to a Friday (Jan. 7) press release.

Mattress Firm hasn’t determined how many shares of its common stock it will sell or the price range for its proposed IPO, but the shares will be sold by existing stockholders. Mattress Firm plans to list on the New York Stock Exchange (NYSE) under the ticker symbol MFRM, the release stated.

Goldman Sachs, Barclays and Jefferies are lead book-running managers for Mattress Firm’s proposed IPO, according to the release. UBS Investment Bank, Guggenheim Securities, Piper Sandler and Truist Securities are acting as book-running managers for the proposed offering.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective, the release stated.

Mattress Firm was acquired by South African retail company Steinhoff International Holdings in 2016 for $3.8 billion. Two years later, the mattress retailer filed for Chapter 11 bankruptcy protection and closed 700 stores across the U.S. Mattress Firm still 2,300 retail stores nationwide, the largest retail footprint in the category.

Read more: Mattress Firm Considers IPO at Volatile Time for Category

Mattress Firm emerged from Chapter 11 protection in November 2018. The company filed confidential registration papers with the SEC in September.

See more: Formerly Troubled Retailers Seek Fresh Start With IPOs

Unlike several other mattress companies that have gone public, Mattress Firm doesn’t have its own products to hawk, instead carrying brands such as Tempur-Pedic, Sealy and Nectar. The company has been developing in-store experiences to draw in customers through product testing.