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Casper Sleep Prices IPO At $12

Casper Sleep Inc. Wednesday priced its initial public offering at $12 per share, at the lower end of its expected range.

The company is offering 8.35 million common shares and has also granted the underwriters a 30-day option to purchase up to an additional 1.25 million common shares at the initial public offering price to cover over-allotments.

The shares are expected to begin trading on the New York Stock Exchange on February 6, 2020 under the ticker symbol "CSPR," and the offering is expected to close on February 10, 2020, subject to customary closing conditions.

Morgan Stanley, Goldman Sachs & Co. LLC and Jefferies are serving as joint lead book-running managers and as representatives of the underwriters for the proposed offering.

Earlier, Casper Sleep lowered the price range for its planned IPO to $12 to $13 a share from a previous $17 to $19, reducing its valuation to just over $500 million.

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