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Brilliant Earth IPO: Is the stock a diamond in the rough?

The ethically sourced jewelry company will debut on the Nasdaq Thursday and Wall Street is waiting to see if it’ll sparkle.

Brilliant Earth IPO: Is the stock a diamond in the rough?
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Ethically sourced jewelry company Brilliant Earth will go public on Thursday and Wall Street is waiting to see if it’ll sparkle.

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The San Francisco- and Denver-based company starts trading on the Nasdaq Global Select Market under the ticker symbol BRLT.

In an IPO announcement on Wednesday, Brilliant Earth announced that more than 8.33 million shares of of its Class A common stock was available to the public for $12 per share.

That’s a change from paperwork filed with the U.S. Securities and Exchange Commission earlier this month, outlining a plan for more than 16.66 million shares of stock priced between $14 and $16.

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Direct-to-consumer Brilliant Earth was founded in 2005 and has accrued more than 370,000 customers around the United States and abroad, according to the company. The company also sells lab-created and recycled diamonds; neither require new mining. Blockchain also is used to trace the diamonds’ origin and ownership.

Last year, Brilliant Earth launched its Mx Collection, which “blur[s] the lines between traditional feminine and masculine styles” to create gender-neutral ones.