SAN FRANCISCO, Dec. 10, 2014 /PRNewswire/ -- Lending Club (NYSE: LC) the world's largest online marketplace connecting borrowers and investors, today announced the pricing of its initial public offering of 58,000,000 shares of common stock at a price to the public of $15.00 per share. Of the shares in the offering, 50,300,000 shares are being offered by Lending Club and 7,700,000 shares are being offered by selling stockholders. Lending Club will not receive any proceeds from the sale of shares by the selling stockholders. The shares are expected to begin trading on the New York Stock Exchange on December 11, 2014 under the symbol "LC." In addition, the underwriters have a 30-day option to purchase up to 8,700,000 additional shares of common stock at the initial public offering price to cover over-allotments, if any.
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. are joint lead book-running managers for the offering. Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. are also acting as joint book-running managers for the offering. Allen & Company LLC is acting as lead manager, with Stifel, Nicolaus & Company, Incorporated, BMO Capital Markets Corp., William Blair & Company, L.L.C., and Wells Fargo Securities, LLC acting as co-managers for the offering.
The offering will be made only by means of a prospectus, copies of which may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526, or email: [email protected]; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, by calling (800) 221-1037 or by emailing a request to [email protected]; or Citigroup Global Markets Inc. c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, New York 11717 or by calling (800) 831-9146.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on December 10, 2014. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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SOURCE Lending Club
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