CURO Group Holdings Corp. said its IPO of 6,666,667 shares of common stock was priced at $14 per share, the low end of the previously guided range of $14 to $16.
The company plans to use the net proceeds to purchase, redeem, defease or repay portions of the 12.00% senior secured notes issued by CURO Financial Technologies Corp. and pay fees, expenses, premiums and accrued interest related to the notes.
CURO Group's common stock will trade on the NYSE on Dec. 7 under the ticker symbol CURO. The offering is expected to close Dec. 11, subject to closing conditions. The underwriters have a 30-day option to purchase up to an additional 1 million shares at the IPO price, less the underwriting discount to cover overallotments, if any. S&P Global Market Intelligence estimates the gross offering size to be approximately $107.3 million, assuming that the underwriters will exercise their option in full.
Credit Suisse Securities (USA) LLC, Jefferies LLC and Stephens Inc. are acting as joint book-running managers and as representatives of the underwriters for the offering. William Blair & Co. LLC is also acting as a book-running manager for the offering.