Cardlytics Inc. priced its underwritten public offering of 2,694,365 common shares at a public price of $34 per share.
The offering includes 1.5 million shares offered by Cardlytics and 1,194,365 shares offered by selling stockholders, according to a Sept. 10 statement.
Cardlytics expects gross proceeds of about $51 million from the offering, before underwriting discounts, commissions and other expenses. The purchase-intelligence platform company will not get any proceeds from the sale of shares by the selling shareholders.
The offering is expected to close on or about Sept. 13, subject to customary closing conditions.
Cardlytics also gave underwriters a 30-day option to buy up to 404,154 more shares of common stock at the offering's price, less underwriting discounts and commissions.
J.P. Morgan and Bank of America Merrill Lynch are the joint book-running managers and representatives of the underwriters for the offering. Wells Fargo Securities, SunTrust Robinson Humphrey and Raymond James are also acting as book-running managers, with KeyBanc Capital Markets as co-manager.
