Boston-based cost processor Flywire introduced its IPO pricing remaining evening. The corporate bought 10.44 million stocks at $24 in line with percentage, the higher restrict of its $22 to $24 in line with percentage value vary. At that percentage rely and worth, Flywire’s gross IPO proceeds stood at $250.6 million.
Renaissance Capital pegs the corporate’s totally diluted valuation at $2.8 billion. The usage of a easy percentage rely, the corporate is value $2.4 billion at its IPO value.
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The Flywire IPO is neat from a monetary standpoint and notable in that it’s a Boston go out versus but any other New York or San Francisco-based flotation. It’s great to peer another towns put issues at the board.
However greater than that, this IPO is an invaluable measuring stick for maintaining tabs at the IPO marketplace as an entire. This 12 months and the remaining are shaping as much as be key go out classes for startups and unicorns of all sizes and styles; many a undertaking capital fund go back rests on those public debuts.