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Financial Technology Company AFFIRM HOLDINGS Set Terms for $873 Million US IPO

Esther Thin

Affirm Holdings Inc, a financial technology company, has filed Amendment No 4 to Form S-1 Registration Statement January 5, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.

The company plans to raise $873 million by offering 24.6 million shares at a price range of $33 to $38. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $10.6 billion.

The company building the next-generation platform for digital and mobile-first commerce by using modern technology and launched a consumer app that allowed loans for purchases at any retailers.

The San Francisco, California-based company was founded in 2012 and booked $596 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq Global Select Market under the symbol “AFRM.” Morgan Stanley, Goldman Sachs, Allen & Company, RBC Capital Markets, Credit Suisse, and Barclays are underwriters of the IPO.

The company engages Skadden, Arps, Slate, Meagher & Flom LLP as US Securities Counsel, and Ernst & Young LLP as Independent Auditor.

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