Shift4 Payments Inc. four has set terms for its initial public offering of common stock, in which the payment processing company expects to raise up to $315 million.
The company is offering 15 million Class A shares in the IPO, which is expected to price between $19 and $21 a share. The stock will list on the NYSE under the ticker symbol “FOUR.” There will be 21.6 million Class A shares outstanding after the offering, representing about 3.5% of the voting power.
The lead underwriters of the IPO are Citigroup, Credit Suisse and Goldman Sachs. The company recorded a net loss of $5.2 million on revenue of $199.4 million for the first quarter, compared with a loss of $13.5 million on revenue of $155.0 million in the year-ago period. The company is looking to go public at a time that the Renaissance IPO ETF ipo has run up 18.1% year to date while the S&P 500 spx has slipped 5.8%.
Shift4 Payments files to go public
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