Affirm reportedly priced stock above its price range at $49 to raise $1.2B. The company had initially set its range at $33-$38 and later upped it to $41-$4, giving the new range a boost of 24% on the bottom end, and 16% at the top end.
More
- Given all outstanding shares, the company will have a market capitalization of $11.9B.
- The company reported net losses of $113M on revenue of $510M in the year ending in June, shrinking from losses of $121M on $264M revenue YoY.
- At Affirm’s IPO price, CEO and founder Max Levchin, who is part of the PayPal Mafia, would own a stake in the company worth almost $1.4B.
- Singapore’s sovereign wealth fund GIC is the largest outside investor in Affirm, with a stake worth almost $1.1B at the IPO price.
