NEW YORK (AP) The following is a list of initial public offerings planned for the coming week. Sources include IPO ETF manager Renaissance Capital, and SEC filings.
Week of January 18:
Elevate Credit – Fort Worth, 3.6 million shares, priced $20 to $22, managed by UBS, Jefferies, and Stifel. Proposed NYSE symbol ELVT. Business: Provider of loans and lines of credits to non-prime consumers.
In an SEC filing, Elevate Credit said it expects to raise $76 million in the IPO. In the last year, Elevate Credit generated approximately $434 million in revenue and reported a net loss of $19.5 million. The market cap for the company is $638.4 million.
Elevate was founded in 2014 as a spinoff of Think Finance. Its backers include Silicon Valley venture capital firms including Sequoia Capital and Technology Crossover Ventures.
www.elevate.com