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IPO Report: 5 things to know about newly-public luxury secondhand retailer The RealReal

With the secondhand retail market well on its way to becoming a $51 billion business, The RealReal Inc., an online marketplace for consigned luxury items, is scheduled to go public Friday.

On Thursday night, the company set an initial public offering price of $20 a share, above its range of $17 to $19 a share, expecting to raise up to $300 million for a valuation above $1.6 billion.

Underwriters for the deal are led by Credit Suisse, BofA Merrill Lynch and UBS Investment Bank. If the underwriters exercise all of their options to buy up to 2.25 million additional shares of stock, The RealReal could raise as much as $345 million.

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