The sustainable sneaker brand will offer 19.2 million shares at a retail price of between $ 12 and $ 14 per share, according to a filing with the Securities and Exchange Commission on Monday. Allbirds says it could raise up to $ 269 million at most on its market debut, with a valuation target of up to $ 2.2 billion. The company has applied for listing on the New York Stock Exchange under the symbol BIRD.

When the company first filed for an IPO in August, Allbirds said it wanted to pave the way for a Sustainable Public Equity Offering (SPO), that works with third party organizations to ensure that companies have clearly defined environmental and social goals they go public. In an update to the original document dated October 4th, Allbirds changed this policy to the name “SPO Framework” and removed almost half of the references to it in the filing.

Allbirds has not yet announced a date for its expected market debut. The company declined to comment.

According to the filing, Allbirds’ net sales increased from $ 126 million in 2018 to $ 219.3 million in 2020. However, the company also posted a net loss of $ 25.9 million in 2020.

Allbirds was founded in 2015 with the goal of making shoes and apparel that are better for the planet. The environmentally friendly brand has become known in recent years for its focus on shoes made from sustainably sourced materials such as tree fiber, sugar cane and crab shells. Allbirds launched its sustainable activewear collection earlier this month and its Wool Runner silhouette features a SweetFoam sole made from a carbon-negative green ethylene vinyl acetate or EVA.

Allbirds is part of several shoe brands and retailers, who want to go public this year. In August alone, the shoe brands Allbirds and On applied for IPOs. Authentic Brands Group, which owns various shoe brands including Nine West, Juicy Couture, Frye, Eddie Bauer, Tretorn and more, filed for an IPO in July. Plus-size retailer Torrid, which also runs a shoe line, went public that same month.

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