MeridianLink, which provides a digital lending platform to mid-market financial institutions, raised $343 million by offering 13.2 million shares (24% secondary) at $26, the high end of the range of $24 to $26. The selling shareholders sold 1.2 million more shares than anticipated. New investor Darlington Partners Capital Management had indicated on $50 million worth of shares in the offering.
MeridianLink is a leading provider of cloud-based software solutions for financial institutions, including banks, credit unions, mortgage lenders, specialty lending providers, and consumer reporting agencies. The company serves 1,925 customers, including 63 of the leading 100 credit unions per Credit Unions Online as of September 2020. MeridianLink supports its customers' digital transformations with solutions that address nearly all categories of consumer lending, and it is working to transition all of its solutions to a public cloud by the end of 2022.
MeridianLink plans to list on the NYSE under the symbol MLNK. BofA Securities, Credit Suisse, Barclays, Citi, and Raymond James acted as joint bookrunners on the deal.
