Overview

• Pattern priced its offering at $14 within a $13–$15 range, selling about 21.4 million shares to raise $300 million.
• Shares opened at $13.50 and traded lower by roughly 3%–4% on day one, implying a valuation of about $2.4–$2.5 billion.
• Goldman Sachs and J.P. Morgan led the deal, and the stock trades on the Nasdaq under the ticker PTRN.
• The company buys inventory and uses data and AI to scale brand sales across marketplaces, with 2024 revenue heavily concentrated on Amazon at about 94%.
• Pattern reported first-half 2025 revenue of $1.14 billion and net income of $47 million, and it plans to allocate proceeds to investor payouts, product development, international expansion and continued investment in proprietary technology.