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Illustration: Sam Jayne / Axios

The Honest Company, the all-natural home goods company co-founded by Jessica Alba, is raising $75 million in new venture capital funding at a much lower valuation than the last time around, according to a document filed last week with Delaware regulators.

Top-line details: Honest's new round would be Series E stock priced at around $19.60 per share, which is 57% lower than the price of its Series D shares (sold in the summer of 2015). It also would slash the Los Angeles-based company's valuation from around $1.7 billion to below $1 billion. An Honest Co. spokeswoman declined comment.

Caveat: The Delaware document (uncovered by CBInsights) is only a share authorization, not an indication that the shares have necessarily been sold. A venture capitalist not previously involved with Honest told Axios that he had seen the deal, but it's also possible that it would be done only by insiders.

Fundraising history: Honest Co. has raised over $220 million in funding since 2001, from firms like General Catalyst, Lightspeed Venture Partners, Institutional Venture Partners, Fidelity, Wellington Management and Hartford Financial.

Context: Honest Co. was floated last year as a possible acquisition target of Unilever, which was seeking inroads into both the "green" household goods market and direct-to-consumer channel. But that disappeared once Unilever instead agreed to buy both Seventh Generation (for between $600m-$700m) and Dollar Shave Club (for $1 billion). Earlier this year, Honest Co. co-founder Brian Lee stepped down as CEO, following a controversy over certain product ingredients, and was replaced by former Clorox executive Nick Vlahos.

Go deeper

Updated 3 hours ago - Sports

Olympics dashboard

Katie Ledecky in Tokyo. Photo: Ding Xu/Xinhua via Getty Images

🚨: Simone Biles won't compete in individual vault or uneven bars

🏊‍♀️: Katie Ledecky wins gold in women's 800m freestyle

🏊: Caeleb Dressel breaks world record in men's 100m butterfly, 3rd gold

🇬🇧: Britain wins gold in first-ever Olympic mixed 4x100m medley relay

🎾: Novak Djokovic defeated in Olympic semi-finals

💻: Japan tests teleporting games and "remote cheering"

Go deeper: Full Axios coverage

Updated 4 hours ago - Sports

Simone Biles won't compete in individual vault or uneven bars Olympic finals

Photo: Loic Venance/AFP via Getty Images

Simone Biles will not compete in the individual vault or uneven bars finals at the Tokyo Olympics, USA Gymnastics announced Friday.

Why it matters: USA Gymnastics said Biles, who previously withdrew from the individual all-around and team finals to prioritize her mental health, will continue to be evaluated to determine if she'll compete in the balance beam or floor exercise events.

5 hours ago - Sports

American Katie Ledecky wins Olympic gold in women's 800m freestyle

USA's Katie Ledecky reacts after taking gold in the final of the women's 800m freestyle race. Photo: Odd Anderson/AFP via Getty Images

American superstar swimmer Katie Ledecky grabbed her second gold medal of this year's Olympic Games, winning the women's 800-meter freestyle race Saturday in Tokyo.

Driving the news: Ledecky, who holds the world record in the 800m freestyle, is considered one of the best women swimmers of all time. Saturday's final marks her third straight Olympic gold in the event.