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Warby Parker Files Confidentially for Public Offering

A confidential filing is often a prelude to a direct listing, rather than a standard initial public offering.
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Warby Parker, the online/in-store prescription eyewear company, said Wednesday that it has confidentially filed with the Securities and Exchange Commission for a public offering of its Class A common stock.

A confidential filing is often a prelude to a direct listing, instead of a standard initial public offering. In a direct listing, instead of raising new outside capital as in an IPO, a company’s shareholders convert their stakes into stock that is listed on an exchange.

Once the stock is listed, shares can be purchased by the public. Existing investors can cash out at any time without the lock-up period of regular IPOs.

“The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions,” Warby Parker said.

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In other stock offering news, Krispy Kreme said in an SEC filing Tuesday that it plans to raise $560 million to $640 million in an initial public offering, selling 27 million shares at a price of $21 to $24 each.

The popular doughnut chain is currently owned by JAB Holding, a Luxembourg-based conglomerate that also owns Panera Bread and Pret A Manger.

And in other retail news, European Union regulators have recommended a fine of more than $425 million for Amazon.com  (AMZN) - Get Report for violating privacy law, sources told The Wall Street Journal earlier this month.

The violation concerns Amazon’s collection and use of personal data and doesn’t apply to its Amazon Web Services cloud unit, one of the sources said. An Amazon spokesman declined to comment to the Journal.

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