GreenSky Inc. (NASDAQ: GSKY) entered the market quietly on Thursday in its IPO debut. Shares snuck into the market a little below its original pricing, but since then shares have recovered and are holding steady.
The company priced its 38 million shares at $23 apiece, the high-end of the expected price range of $21 to $23. The underwriters also have an overallotment option for an additional 5.11 million shares. At this price, the entire offering is valued up to $1.005 billion.
The underwriters for the offering are Goldman Sachs, JPMorgan, Morgan Stanley, Merrill Lynch, Citigroup, Credit Suisse, SunTrust Robinson Humphrey, Raymond James, Sandler O’Neill, Fifth Third Securities and Guggenheim.
This technology company powers commerce at the point of sale. Its platform facilitates merchant sales, while reducing the friction and improving the economics associated with a consumer making a purchase and a bank extending financing for that purchase. So far it has had roughly 12,000 active merchants on its platform as of March and, from its inception through that time, merchants have used the platform to enable about 1.7 million consumers to finance over $12 billion of transactions with its bank partners.
GreenSky intends to use the net proceeds from the offering to pay down its debt, as well as for working capital and general corporate purposes.
Shares of GreenSky were last seen at $22.99, with a range of $22.10 to $23.35 on the day thus far. Also, roughly 15 million shares had moved as of 12:30 p.m. ET.
24/7 Wall St.100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
