Oportun Financial Corp. priced its IPO at $15 per share, at the bottom end of a previously announced range.
The digital lender is offering 4,690,000 shares and the selling stockholders are offering 1,560,000 shares. It will not receive any proceeds from the sale of shares by the selling stockholders.
Oportun Financial and the selling stockholders granted the underwriters a 30-day option to buy up to 937,500 additional common shares at the IPO price, less underwriting discounts and commissions.
The shares are expected to start trading on the Nasdaq Global Select Market on Sept. 26 under the ticker symbol OPRT.
Barclays, J.P. Morgan and Jefferies are acting as joint lead book-running managers for the offering, which is expected to close Sept. 30. Keefe Bruyette & Woods is also acting as an additional book-running manager, while JMP Securities and BTIG LLC are acting as co-managers.
