KinderCare postpones IPO, citing regulatory delays
By Daniel Tyson
17:14, 19 November 2021
KinderCare Learning Companies postponed its scheduled initial public offering, citing regulatory delays Thursday night.
The Portland, Oregon-based company expected to go public this week. In Securities and Exchange Commission filings, the child care and early child care education provider anticipated to raise about $460m (£341.49m) and be valued at nearly $3bn (£2.22bn), according to revised SEC paperwork filed under the name KC Holdco.
In an 8 November press release, the company said it applied for a listing on the New York Stock Exchange under the ticker KLC and will set the IPO’s offering price within a range from $18 to $21 per share.
Centres located in many states
KinderCare has 1,490 early childhood centres in 40 states and the District of Columbia and a licensed capacity of more than 195,000 children, according to its S1 file.
"Throughout our pursuit of an initial public offering (IPO), we've received healthy interest from investors and positive feedback on KinderCare's potential. Unfortunately, due to regulatory delays outside of our control we have decided to postpone our IPO," the company said in a statement.
Disappointment
In a statement provided to Capital.com, KinderCare wrote, “Throughout our pursuit of an initial public offering, we’ve received healthy interest from investors and positive feedback on KinderCare’s potential. Unfortunately, due to regulatory delays outside of our control, we have decided to postpone our IPO. This is a true disappointment, as the IPO was going to allow us to grow faster and serve more hard-working families while furthering our mission to provide future generations with confidence for life.”
The company did not give a date for when they expect to start trading publicly.
In November, KinderCare said Barclays, Morgan Stanley and Jefferies are the main book-runners for the IPO.
Read more: KinderCare Learning files for IPO as children return
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