Online lender GreenSky sets terms for $750 million IPO
GreenSky, which operates a digital lending platform that facilitates merchant financing, announced terms for its IPO on Monday.
The Atlanta, GA-based company plans to raise $750 million by offering 34.1 million shares at a price range of $21 to $23. At the midpoint of the proposed range, GreenSky would command a fully diluted market value of $4.2 billion and an enterprise value of $4.4 billion.
GreenSky was founded in 2006 and booked $346 million in sales for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol GSKY. Goldman Sachs, J.P. Morgan, Morgan Stanley, BofA Merrill Lynch, Citi, Credit Suisse and SunTrust Robinson Humphrey are the joint bookrunners on the deal. It is expected to price during the week of May 21, 2018.
The article Online lender GreenSky sets terms for $750 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's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.