Markets

Elevate Credit delays $76 million IPO

Elevate Credit, an online provider of loans and lines of credits to non-prime consumers, delayed its IPO on Thursday, according to a press release. It had filed to raise $76 million by offering 3.6 million shares at a price range of $20 to $22. The press release cited market volatility as the key factor and stated that the company would continue to evaluate the timing for the offering.

The Fort Worth, TX-based company was founded in 2001 and booked $394 million in sales for the 12 months ended September 30, 2015. It had planned to list on the NYSE under the symbol ELVT. UBS Investment Bank, Jefferies, Stifel and William Blair were set to be the joint bookrunners on the deal.

The article Elevate Credit delays $76 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of 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.


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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