On Wednesday night, the company priced its initial public offering at $18 to raise about $816.5 million, higher than the $14 to $17 expected price target.
Lender Affirm Prices IPO Above Range to Raise $1.2 billion
Bloomberg 1/13/2021 Crystal Tse and Katie Roof
(Bloomberg) Affirm Holdings Inc., which provides installment loans to online shoppers, priced its U.S. initial public offering above its marketed range to raise $1.2 billion.
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In the first major U.S. technology listing this year, Affirm sold 24.6 million shares for $49 each, according to a statement on Wednesday, confirming an earlier Bloomberg News report. The San Francisco-based company had marketed the shares for $41 to $44 apiece, a range that it had raised Monday from $33 to $38.
The IPO gives Affirm a market value of $11.9 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission. The company’s fully diluted valuation, including options and restricted stock units, is about $15 billion.
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