Tuesday, January 12, 2016

Elevate Credit Sets IPO Pricing Range

Fort Worth-based Elevate Credit, the provider of online credit services for the non-prime consumer market, has set its IPO pricing range, saying in a filing on Monday that it now expects its IPO to price at between $20.00 and $22.00 per share. Elevate Credit, which plans to IPO on the NYSE as ELVT, provides online, installment loans and lines of credit in both the US and the UK, under the Rise, Elastic, and Sunny brands. The IPO is being underwritten by UBS Investment Bank, Jeffries, Stifel, William Blair, and BB&T Capital Markets. Elevate Credit is looking to sell 3.6 million shares of its common stock in the IPO. Elevate Credit is backed by Sequoia Capital and Technology Crossover Ventures.