November 17, 2017 12:56 PM
Level Brands, a Charlotte-based marketing and branding company, began trading on the NYSE American stock exchange on Friday, after completing an initial public offering that raised $12 million.
The company, which counts supermodel-turned-businesswoman Kathy Ireland as its chief brand strategist, said it sold 2 million shares at a price of $6. In early afternoon trading, the shares were down more than 7 percent to $5.55.
Level Brands, led by CEO Marty Sumichrast, focuses on hair care and other consumer products.