Fashion Site Rent the Runway Raises $357 Million in Upsized IPO

Rent the Runway Inc.expanded its initial public offering and priced the shares at the top of a marketed range to raise $357 million.

The company sold 17 million shares Tuesday for $21 each after marketing 15 million shares for $18 to $21, according to a statement.

The listing gives Rent the Runway a market value of $1.3 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission. Accounting for employee stock options and similar holdings, the company would have a fully diluted value of about $1.5 billion.

A Rent the Runway store in New York City on Oct. 22.

Photographer: Michael M. Santiago/Getty Images

That compares with a ...