Payfare’s IPO reaches $75.2 million following exercise of over-allotment option Toronto FinTech startup Payfare’s initial public offering (IPO) has increased to $75.2 million following an over-allotment option exercised by the transaction’s underwriters. Payfare, which filed to go public in February, initially closed $65.4 million for its IPO in mid-March and currently trades on the Toronto Stock Exchange (TSX) under the symbol “PAY.” Payfare is one of many Canadian tech companies that have turned to public markets in recent months. Payfare granted the underwriters an over-allotment option that was exercisable for 30 days following closing to purchase up to an additional 1,635,000 common shares at the offering price of $6 per share, which would bring in additional gross proceeds of up to $9.8 million. That option was exercised in full this week.