Pattern Group (PTRN) priced its IPO at $14.00 – the mid-point of its $13.00-to-$15.00 range – and sold 21.43 million shares – the number in the prospectus – to raise $300 million on Thursday night, Sept. 18, 2025. At pricing, Pattern Group had a market cap of about $2.46 billion. (Editor’s Note: This column, published Thursday night, Sept. 18, 2025, was updated at midday on Friday with news of Pattern Group’s debut on the NASDAQ.)
Pattern Group’s stock fell 50 cents to open at $13.50 – down 3.57 percent from its IPO price – when it started trading shortly before 1 p.m. EDT today – Friday, Sept. 19, 2025 – on NASDAQ.
By 1:49 p.m. EDT on Friday, Pattern Group’s stock edged back into the black – trading at $14.22 – just 22 cents above its IPO price – on volume of about 9 million shares.
Pattern Group’s stock closed on Friday, Sept. 19, at $15.63 – up $1.63 from its $14.00 IPO price for a first-day gain of 11.64 percent – on volume of about 16 million shares.
Goldman Sachs and J.P. Morgan led the joint book-runners’ team.
Evercore ISI, Jefferies, Baird, BMO Capital Markets, KeyBanc Capital Markets, Needham & Co., Stifel and William Blair also served as joint book-runners.
Of the 21.43 million shares in the IPO, the company sold half – or about 10.71 million shares – and the selling stockholders – the founders – sold 10.71 million shares – representing the other half. Pattern will not receive any proceeds from the sale of the selling stockholders’ shares.
Pattern, based in Lehi, Utah, described its business in the prospectus: “We are an online reseller of consumer products. We partner with premium brands – Bosch and Tumi, for example – and sell their products online via Amazon or Walmart, for example.”
The profitable company, founded in 2013, calls itself “the pioneer of ecommerce acceleration.” Of the four companies that went public this week, Pattern is the only one whose balance sheet is in the black.
Pattern said its “proprietary technology platform is powered by AI and machine learning,” according to the prospectus.
Most of Pattern’s sales came from Amazon in 2024, the prospectus said.
Pattern’s revenue rose 35 percent to $1.14 billion for the first six months of 2025 – compared with $841 million in the year-earlier period – while its net income increased 31 percent to $47 million in the six months that ended June 30, 2025 – up from $35 million in the year-ago period, according to the prospectus.
Pattern reported net income of $78.9 million on revenue of $2.09 billion for the 12 months that ended June 30, 2025, according to financial statements in the prospectus.
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