Kidpik Corp. Announces the Price of Its $ 18.0 Million Initial Public Offering and Nasdaq Listing


NEW YORK–(COMMERCIAL THREAD) – Kidpik Corp. (“KIDPIK” or the “Company”), an online clothing subscription e-commerce company, today announced the price of its initial public offering of 2,117,647 common shares at a public offering price of 8, $ 50 per share, for total gross proceeds of approximately $ 18.0 million, before the deduction of underwriting discounts, commissions and offering costs and excluding any exercise of the underwriters’ option firm to purchase additional securities as described herein. In addition, KIDPIK has granted the underwriters a 45-day option to purchase up to 317,647 additional common shares solely to cover the over-allotments at the public offering price less subscription discounts and commissions. KIDPIK has received authorization to list its ordinary shares on the Nasdaq Capital Market, under the ticker symbol “PIK”, with an expected start of trading on November 11, 2021. The offer is expected to close on November 15, 2021, subject to the satisfaction of customary closing conditions.

EF Hutton, a division of Benchmark Investments, LLC, is acting as the sole book manager for the offering.

The Securities and Exchange Commission (“SEC”) declared in effect a registration statement on Form S-1, as amended (File No. 333-260101) (the “Registration Statement”), on November 10 2021, and a registration statement on Form S-1MEF (File No. 333-260986) was filed with the SEC on the same date and became effective upon filing. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. The offer is made only by means of a prospectus. Electronic copies of the final prospectus relating to this offering, when available, may be obtained from EF Hutton, a division of Benchmark Investments, LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or by email at [email protected] or by phone at (212) 404-7002.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described in this document, and there will be no sale of such securities in any state or jurisdiction in which such offering, solicitation or sale would be illegal. prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Kidpik Corp.

Founded in 2016, KIDPIK (NASDAQ: PIK) is an online clothing subscription box for kids, offering expertly styled mix and match outfits that are curated based on each member’s style preferences. KIDPIK delivers a monthly or seasonal surprise box, providing an effortless shopping experience for parents and a fun discovery for kids. Each seasonal collection is designed in-house by a team with decades of experience designing children’s clothing. KIDPIK combines the expertise of fashion stylists with proprietary data science and technology to translate children’s unique style preferences into surprise boxes of select outfits. We also sell our branded clothes and shoes through our e-commerce site, www.shop.kidpik.com. For more information visit www.kidpik.com.

Forward-looking statements

This press release contains statements that constitute “forward-looking statements”, in particular with respect to the expected timing of completion of the offer and other statements of a predictive nature. No guarantee can be given that the offer will be made under the conditions described, or not at all. The Private Securities Litigation Reform Act of 1995 provides a safe haven for forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company. Although the Company believes that these forward-looking statements are reasonable, one should not place undue reliance on these forward-looking statements, which are based on information available to the Company as of the date of this press release. These forward-looking statements are based on current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the “Risk Factors” section of the Company’s registration statement and of the preliminary prospectus of the offer filed with SECONDE. Thus, the actual results could be materially different. The Company does not undertake to update these statements, whether as a result of new information, future events or otherwise, after the date of this press release, except as required by law.


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