Princess Polly, Culture Kings, Petal & Pup and Rebdolls parent company, A.K.A Brands has listed on the New York Stock Exchange (NYSE).
The California-based parent company began trading its stock on the NYSE on 22 September and offered 10 million shares of its common stock at a price to the public of $11.00 per share for gross proceeds of $110 million.
In addition, underwriters will have a 30-day option to purchase an additional 1.5 million shares of common stock from the Company at the initial public offering price, less underwriting discounts and commissions.
According to Market Watch, the stock's first trade was at $9.50 at 10:35am (Eastern Time 22 Sep) for about 893,300 shares - 13.6% below the initial public offering price.
According to A.K.A Brands it will use the net proceeds from the offer - in conjunction with borrowings under its new senior secured credit facility - to repay in full any outstanding debts with its existing credit facility and repurchase minority interests in Petal & Pup.
A.K.A Brands - backed by private equity business Summit Partners - acquired Australian brands Princess Polly in 2018, Petal & Pup in 2019 and Culture Kings in March this year.
Princess Polly began life as a bricks and mortar retailer in 2005 on the Gold Coast, founded by Wez and Eirin Bryett.
The business launched online in 2010 and according to Forbes, is the number six favourite shopping website for America's upper-income teens.
Meanwhile, streetwear retailer Culture Kings also originated in Queensland, founded by Tah-nee and Simon Beard in Brisbane in 2008.
Third Aussie brand, Petal & Pup, was also founded on Australian soil in 2015 by Tiffany Henry and led by Philip Scarff.
According to a SMH report, the founders are set for a "billion dollar payday" from the offer.
The Market Watch report states that the A.K.A Brands stock has traded in a range of $9.30 to $10.29 since the open.