Fintech Affirm to IPO at up to $44 a Share [u]

Fintech Affirm will list its shares today at an anticipated price of up to $44 a share. This is up from the prior range of $33 to $38 a share. This is according to the most recent filing with the SEC.

Affirm will sell up to 28,290,000 shares raising over $1.2 billion with a valuation of over $10 billion.

Affirm was founded by Fintech billionaire Max Levchin. It is a “buy now, pay later” or BNPL Fintech offering point of sale credit for consumers purchasing larger ticket items.

As of September 30, 2020, Affirm reported over 6.2 million consumers having completed 17.3 million transactions with over 6,500 merchants on Affirm’s platform.

Affirm has generated $596 million in revenue during the 12 months ending September 30, 2020.

Morgan Stanley, Goldman Sachs, Allen & Company, RBC Capital Markets, Credit Suisse, and Barclays are the joint bookrunners on the deal. Shares will trade on NASDAQ under ticker AFRM.

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