KinderCare launches IPO for 24 million shares in Portland

On September 30, 2024, KinderCare Learning Companies, Inc., based in Portland, Oregon, announced its intention to launch an initial public offering (IPO) of 24 million shares of common stock. The IPO is expected to be priced between $23.00 and $27.00 per share, with underwriters having the option to purchase an additional 3.6 million shares. The proceeds from this offering will primarily be used to repay existing debts and cover associated expenses. Goldman Sachs & Co. LLC, Morgan Stanley, Barclays, and J.P. Morgan are leading the underwriting process, while several other financial institutions are involved as joint book-runners and co-managers. The company has applied to list its shares on the New York Stock Exchange under the ticker symbol 'KLC.' A registration statement has been filed with the Securities and Exchange Commission, but it has not yet become effective, meaning that the shares cannot be sold or offered until the registration is approved. This IPO marks a significant step for KinderCare, which is recognized as the largest private provider of early childhood education in the United States by center capacity. The announcement reflects KinderCare's strategy to strengthen its financial position and expand its operations in the competitive early childhood education market. The successful completion of the IPO could provide the necessary capital for growth and development, positioning the company for future opportunities in the sector.