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GreenSky IPO priced at $23 per share

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GreenSky IPO priced at $23 per share

Greensky Inc announced the pricing of its initial public offering of 38 million class A common shares at $23.00 per share.

The Atlanta-based financial technology company also granted the underwriters a 30-day option to purchase up to an additional 5.7 million shares at the initial public offering price less underwriting discounts. Assuming the underwriters fully exercise the overallotment option, S&P Global Market Intelligence estimates a gross offering size of $1.01 billion.

GreenSky earlier said it expects its 34,090,909 class A common shares to price at between $21.00 per share and $23.00 per share. The shares are expected to begin trading on the NASDAQ Global Select Market May 24 under the symbol GSKY. The offering will close May 29, subject to certain closing conditions.

The company plans to use the net proceeds from the offering to purchase the same number of class A common shares or other equity interests that are exchangeable or convertible into class A common shares from certain of its investors and current and former employees.

Goldman Sachs & Co. LLC, J.P. Morgan and Morgan Stanley are acting as joint lead book-running managers and as representatives of the underwriters for the offering.

Bank of America Merrill Lynch, Citigroup, Credit Suisse and SunTrust Robinson Humphrey also are acting as book-running managers. Raymond James, Sandler O'Neill & Partners LP, Fifth Third Securities and Guggenheim Securities are acting as co-managers.