Casper falls below unicorn status in new IPO filing

Mattress maker Casper Sleep on Monday seemed to acknowledge skepticism toward its upcoming IPO by disclosing that it doesn't expect to maintain the "unicorn" valuation it received from venture capitalists.

The bottom line: Casper plans to price shares at between $17 and $19, giving it a midpoint valuation of $705 million. It last raised private funding in early 2019 at a valuation of nearly $1.1 billion.

Go deeper: Casper lists inability to control social media influencers as IPO risk