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Illustration: Annelise Capossela/Axios

Warby Parker is set to go public Wednesday via a direct listing. It got a $40 per share reference price, which would value the eyeglasses retailer at nearly $5 billion.

Why it matters: This could be a fraught time for direct listings, as vested employees are getting jumbled guidance from D.C. on how their potential sales would be taxed. But that didn't seem to hurt yesterday's direct listing by Amplitude, the data analytics company whose first-day performance defied the Nasdaq's worst trading session since March.

Details: Warby is a direct-to-consumer pioneer that now generates more sales from its physical retail stores than it does via its digital channels. The company, a certified B Corp, plans to list on the NYSE (WRBY) and reports a $7 million net loss on $271 million in revenue for the first half of 2021.

ROI: It raised over $500 million in VC funding, most recently last summer at a $3 billion valuation, from firms like Tiger Global, T. Rowe Price, General Catalyst, D1 Capital Partners and Durable Capital Partners.

The bottom line: "We believe a direct listing is a more transparent and inclusive process for lots of fans of the brad who in a traditional IPO wouldn't have the option of getting an allocation.. It creates a fair playing field for all," Dave Gilboa, Warby Parker co-founder and CEO, told Axios. ⁠

Go deeper

Dan Primack, author of Pro Rata
Oct 7, 2021 - Economy & Business

Peloton rival postpones its IPO

Source: iFIT Health & Fitness.

iFIT Health & Fitness, a Peloton rival whose brands include NordicTrack, on Thursday postponed its IPO, citing "adverse market conditions."

Reality check: Two other companies, including one in the fitness space, priced IPOs last night and began trading today.

Tina Reed, author of Vitals
2 hours ago - Health

FDA panel endorses shot of J&J booster for adults

Photo: Wolfgang Kumm/picture alliance via Getty Images)

Members of the Food and Drug Administration's vaccine expert panel on Friday unanimously endorsed a booster shot for adult recipients of Johnson & Johnson's COVID-19 vaccine at least two months after the initial dose.

Why it matters: The advisory committee raised concerns about a dearth of data to support their decision but ultimately decided to support an additional shot for those over 18.

Capitol Police officer indicted for obstructing Jan. 6 investigation

Trump supporters clash with police and security forces as people try to storm the Capitol on Jan. 6. Photo: Brent Stirton/Getty Images

A U.S. Capitol Police officer has been indicted on obstruction of justice charges for allegedly helping hide evidence of a participant's involvement in the Jan. 6 riot.

Driving the news: Officer Michael A. Riley, 50, is accused of telling the unidentified participant, referred to as "Person 1," in the Jan. 6 riot to delete posts from Facebook, which showed them in the Capitol during the attack.

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