Upstart Holdings, Inc.

Upstart Holdings, Inc. (UPST) priced its initial public offering on Dec 16, 2020 at $20.00 per share, raising $240.3M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $1.45B. Goldman Sachs was lead-left underwriter, joined by BofA Securities, Citigroup and Jefferies and others.

Upstart Holdings, Inc. operates a cloud-based artificial intelligence lending platform that connects consumer loan demand to its network of bank partners. Partners have originated over 620,000 personal loans, and about 70% of Upstart-powered loans in the first nine months of 2020 were fully automated.

Status

IPO

Ticker

UPST

Exchange

Nasdaq Global Select

Priced

Dec 16, 2020

IPO price

$20.00

Raised

$240.3M

Market cap at IPO price

$1.45B

First filed

Nov 5, 2020

Underwriters

Goldman Sachs, BofA Securities, Citigroup, Jefferies, Barclays, Citizens JMP and Blaylock Van

Sector

Financials

Country / state

CA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.