KinderCare Learning Companies, Inc. (KLC Proposed)unveiled the terms for its revived IPO – 24.0 million shares at a price range of $23.00 to $27.00 to raise $600 million – in an S-1/A filing early today – Monday, Sept. 30, 2024. The company would have a market cap of about $2.86 billion, if priced at the $25.00 mid-point of its range. These terms bring KinderCare’s IPO back to the Wall Street stage after the national chain of day-care centers abruptly postponed its initial public offering in late November 2021.
KinderCare Learning Companies, based in Lake Oswego, Oregon, describes itself as “the largest private provider of high-quality early childhood education (ECE) in the United States by center capacity,” according to the prospectus. The company serves children ranging in age from six weeks to age 12 in over 1,500 early childhood education centers and nearly 900 before- and after-school sites in 40 states and the District of Columbia, as of June 29, 2024.
Goldman Sachs, Morgan Stanley, Barclays and J.P. Morgan are leading the team of joint book-runners. The book-running team includes UBS Investment Bank, Baird, BMO Capital Markets, Deutsche Bank Securities and Macquarie Capital.
KinderCare Learning Companies, Inc. is profitable. The company reported net income of $57.65 million on revenue of $2.59 billion for the 12 months that ended June 30, 2024, according to financial statements in the prospectus.
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