Elevate Credit, a provider of loans and lines of credits to non-prime consumers, announced terms for its IPO on Monday.
The Fort Worth, TX-based company plans to raise $76 million by offering 3.6 million shares at a price range of $20 to $22. At the midpoint of the proposed range, Elevate Credit would command a fully diluted market value of $708 million.
Elevate Credit, which was formed in 2014 and booked $394 million in revenue for the 12 months ended September 30, 2015, plans to list on the NYSE under the symbol ELVT. UBS Investment Bank, Jefferies, Stifel and William Blair are the joint bookrunners on the deal. It is expected to price during the week of January 18, 2016.
