Neil MacGillvray explores the options for paying the pension annual allowance charge and asks if the 'scheme pays' route is the most efficient for clients.
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Affirm late Tuesday priced an offering of 24.6 million Class A shares at $49 each, above the recently increased target range of $41 to $44 a share. The original range was $33 to $38.
The IPO price values the consumer lender above $15 billion, once accounting for all outstanding shares and stock options.
The offering is led by Morgan Stanley, Goldman Sachs, and Allen & Co. Affirm will trade on Nasdaq under the symbol AFRM. Shares are set to begin trading Wednesday.
Affirm had revenue for the June 2020 fiscal year of $509.5 million, up 93% from a year ago, while losing $112.6 million. For the September quarter, revenue was $174 million, up about 98% from the comparable year-earlier period, with a loss of $15.3 million.
Jan. 13, 2021 7:00 am ET Vivendi SE ’s Universal Music Group has licensed the world’s largest music catalog to Equinox Media LLC’s Variis digital fitness app, allowing users to work out at home to hits by Taylor Swift, Lady Gaga, Ariana Grande, Billie Eilish and the Weeknd.
The agreement comes as the music industry increasingly looks to new partners across social media, videogames and fitness for revenue beyond streaming. The pandemic has accelerated the growth of at-home fitness apps, which have relied on music as a draw to live-streamed and on-demand classes led by remote instructors who have become much like influencers and DJs in their own right.