Affirm must demonstrate it can maintain healthy loan growth to regain investor confidence when reporting earnings results Thursday, while Klarna unveils results next week.
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.
Affirm Holdings Inc. almost doubled in its public market debut, the latest multibillion-dollar technology company to start trading significantly higher than its initial public offering price.