Allbirds’ initial public offering is expected to be valued at as high as $2.2 Billion, according Monday’s announcement. in a securities filing

Sustainable shoe company Allbirds said that it will offer 19.2 millions shares at $12 to $14 each. Allbirds, at its highest end, would make $269 millions in its first market launch.

Allbirds is yet to announce a date for their IPO. This company is expected to list on the Nasdaq exchangeUnder the ticker symbol “BIRD.”

The company also disclosed Monday that the increase in expenses had caused its recent quarter losses to rise. According to Allbirds, it anticipates a net loss in the period ending September 30, between $15 and $18 millions. That’s compared to $7 million last year.

Allbirds stated that it hadn’t turned a profit when it filed the IPO prospectus late in August.

Allbirds’ revenue ranged between $61million and $62.5million for its quarter ending Sept. 30, compared to $47.2 million last year. The company stated that more customers are coming back to brick-and-mortar stores and the average order value is increasing.

Allbirds’ latest SEC filing here

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