Affirm raises expected pricing range for IPO

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Affirm Holdings Inc. announced in a Monday morning filing that it’s raising the expected pricing range for a planned initial public offering. The payment-technology company, which lets consumers make online purchases in installments, now expects its stock to price at $41 to $44 a share. The company previously anticipated that the shares would price at $33 to $38 a share. At the high end of the new expected range, Affirm would raise $1.08 billion, as the company plans to offer 24.6 million shares of its common stock through the IPO. Affirm was expected to come public in late 2020 but the company reportedly delayed its IPO into this year after the big first-day stock pops for Airbnb Inc. and DoorDash Inc. , which suggested those companies left significant money on the table. Affirm intends to list on the Nasdaq under the ticker AFRM. The company’s planned IPO comes as the Renaissance IPO ETF has gained 20% on the year and as the S&P 500 has risen 10%.
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