Medical-Apparel Maker Figs Turns Down Private-Equity Acquisition Offer

Dow Jones

2025/01/17

By Connor Hart

Medical-apparel maker Figs rejected a takeover offer from private-equity firm Story3 Capital Partners that valued the company at more than $1 billion.

Figs said in a Securities and Exchange Commission filing that it's confident in its standalone plan and prospects, resulting in its decision to reject Story3's offer. The company's board informed Story3 of the decision in a letter Thursday.

The company's shares fell 2.5% to $5.97 in after-hours trading.

The decision comes after Story3 last month offered to pay $6 a share for all outstanding common shares of Figs that it doesn't already own. At that time, the firm and affiliated funds owned a little over 1% of the company's stock.

Fortress Investment Group, one of Story3's strategic limited partners, was prepared to provide the debt financing for the deal, it previously said.

Figs is a direct-to-consumer healthcare-apparel maker known for its scrubs. The business was started in 2013 and later went public in 2021, commanding a valuation of more than $4.5 billion at the time.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

January 16, 2025 17:10 ET (22:10 GMT)

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The business was started in 2013 and later went public in 2021, commanding a valuation of more than $4.5 billion at the time. \n</p>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 16, 2025 17:10 ET (22:10 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Medical-Apparel Maker Figs Turns Down Private-Equity Acquisition Offer</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMedical-Apparel Maker Figs Turns Down Private-Equity Acquisition Offer\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-01-17 06:10</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Connor Hart \n</p>\n<p>\n  Medical-apparel maker Figs rejected a takeover offer from private-equity firm Story3 Capital Partners that valued the company at more than $1 billion. \n</p>\n<p>\n  Figs said in a Securities and Exchange Commission filing that it's confident in its standalone plan and prospects, resulting in its decision to reject Story3's offer. 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The business was started in 2013 and later went public in 2021, commanding a valuation of more than $4.5 billion at the time. \n</p>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 16, 2025 17:10 ET (22:10 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4215","symbol_name":"住宅房地產投資信託","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2504926529","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2504926529","pubTimestamp":1737065400,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Medical-apparel maker Figs rejected a takeover offer from private-equity firm Story3 Capital Partners that valued the company at more than $1 billion.Figs said in a Securities and Exchange Commission filing that it's confident in its standalone plan and prospects, resulting in its decision to reject Story3's offer. 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The business was started in 2013 and later went public in 2021, commanding a valuation of more","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4215":"住宅房地产投资信托","FIGS":"FIGS, Inc.","LU1878469433.USD":"THREADNEEDLE (LUX) - AMERICAN SMALLER COMPANIES \"A\" (USD) ACC","BK4539":"次新股","BK4588":"碎股","EQR":"资产住宅公司","BK4198":"医疗保健用品","BK4585":"ETF&股票定投概念","BK4561":"索罗斯持仓","BK4202":"服装、服饰与奢侈品","BK4535":"淡马锡持仓"},"translate_title":"医疗服装制造商Figs拒绝私募股权收购要约","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FIGS":1,"EQR":1},"content_text":"By Connor Hart \n\n\n  Medical-apparel maker Figs rejected a takeover offer from private-equity firm Story3 Capital Partners that valued the company at more than $1 billion. \n\n\n  Figs said in a Securities and Exchange Commission filing that it's confident in its standalone plan and prospects, resulting in its decision to reject Story3's offer. The company's board informed Story3 of the decision in a letter Thursday. \n\n\n  The company's shares fell 2.5% to $5.97 in after-hours trading. \n\n\n  The decision comes after Story3 last month offered to pay $6 a share for all outstanding common shares of Figs that it doesn't already own. At that time, the firm and affiliated funds owned a little over 1% of the company's stock. \n\n\n  Fortress Investment Group, one of Story3's strategic limited partners, was prepared to provide the debt financing for the deal, it previously said. \n\n\n  Figs is a direct-to-consumer healthcare-apparel maker known for its scrubs. The business was started in 2013 and later went public in 2021, commanding a valuation of more than $4.5 billion at the time. \n\n\n  Write to Connor Hart at connor.hart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 16, 2025 17:10 ET (22:10 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"merge","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}