Casper Seeks IPO Value of Up to $744 Million, Down From Heyday

Online mattress retailer Casper Sleep Inc. plans to raise as much as $159 million in its initial public offering, setting up a test of investor appetite for pioneering firms whose losses have grown with their revenue.

The New York-based company said in a filing Monday that it planned to sell 8.35 million shares for $17 to $19 each. At the top end of the range and excluding the over-allotment option for underwriters, the company would be valued at just over $744 million -- a drop from a previous assessment of $1.1 billion.

WATCH: Online mattress retailer Casper Sleep plans to raise as much as $159 million in its initial public offering.

(Source: Bloomberg)

Casper, founded in 2014, became one of ...