Low-end $ 20 IPO Priced Upstart Loan Platform


Upstart Holdings, which operates an online consumer lending platform connecting banks and individuals, raised $ 240 million by offering 12 million shares (75% primary) at $ 20, the lower end of the range from $ 20 to $ 22. Existing shareholder Third Point Ventures had indicated 1.2 million shares in the offer. In terms of prices, the company raised 5% less revenue than expected.

Upstart Holdings plans to list on Nasdaq under the symbol UPST. Goldman Sachs, BofA Securities, Citi, Jefferies and Barclays acted as lead managers of the transaction.

The Low-End $ 20 IPO Priced Upstart Loan Platform article originally appeared on the renaissancecapital.com website of IPO investment manager Renaissance Capital.

Disclosure of investments: The information and opinions expressed in this document have been prepared by Renaissance Capital research analysts and do not constitute an offer to buy or sell any securities. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS) or separately managed institutional accounts may have investments in securities of the companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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