Business
Oportun announces pricing of initial public offering
SAN CARLOS, Calif., Sept. 25, 2019 (GLOBE NEWSWIRE) -- Oportun Financial Corporation (“Oportun”), a high-growth, mission-driven Community Development
About this update from Oportun Financial Corporation
[{"type":"text","content":"SAN CARLOS, Calif., Sept. 25, 2019 (GLOBE NEWSWIRE) -- Oportun Financial Corporation (“Oportun”), a high-growth, mission-driven Community Development Financial Institution (CDFI) providing inclusive, affordable financial services powered by a deep, data-driven understanding of its customers and advanced proprietary technology, today announced the pricing of its initial public offering (“IPO”) of 6,250,000 shares of its common stock at a price to the public of $15.00 per share. 4,690,000 of the shares are being offered by Oportun and 1,560,000 of the shares are being offered by the selling stockholders. Oportun will not receive any proceeds from the sale of shares by the selling stockholders.\n The shares are expected to begin trading on The Nasdaq Global Select Market under the ticker symbol “OPRT” on September 26, 2019, and the offering is expected to close on September 30, 2019, subject to satisfaction of customary closing conditions. In addition, Oportun and the selling stockholders have granted the underwriters a 30-day option to purchase up to 937,500 additional shares of common stock at the IPO price, less underwriting discounts and commissions. Barclays, J.P. Morgan, and Jefferies are acting as joint lead book-running managers for the offering. Keefe, Bruyette & Woods, a Stifel company, is also acting as an additional book-running manager for the offering. JMP Securities and BTIG, LLC are acting as co-managers for the proposed offering. The offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from: Barclays Capital Inc., c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 888-603-5847 or by email at [email protected]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at [email protected]; and Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-821-7388, or by email at [email protected]. A registration statement relating to the offering has been filed with, and declared effective by, the U.S. Securities and Exchange ...