Reformation Inc., the global womenswear brand, announced the pricing of its initial public offering of 14,062,500 shares of common stock at $15.00 per share. The offering values the share sale at more than $210 million.
Reformation is offering 9,478,821 shares of common stock, while certain existing stockholders are offering 4,583,679 shares. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,109,375 shares at the IPO price.
Reformation’s shares are expected to begin trading on the New York Stock Exchange on July 30, 2026, under the ticker symbol “REF.” The closing of the offering is expected to occur on July 31, 2026, subject to customary closing conditions.
J.P. Morgan and Morgan Stanley are acting as joint lead bookrunning managers, with Citigroup and RBC Capital Markets serving as joint bookrunning managers. Guggenheim Securities, Baird, William Blair, and BTIG are acting as additional bookrunning managers, and Telsey Advisory Group is acting as co-manager. A registration statement on Form S-1 relating to the offering was declared effective by the Securities and Exchange Commission on July 29, 2026.
Reformation describes itself as the largest sustainable womenswear brand in the world. Over the past 17 years, the company has built its brand around merchandising and a responsive supply chain, serving more than one million active customers. Reformation operates 70 retail stores across the US, UK, Canada, and France, and serves more than 150 countries through its e-commerce platform.
