Boston-based cost processor Flywire introduced its IPO pricing final evening. The corporate offered 10.44 million shares at $24 per share, the higher restrict of its $22 to $24 per share worth vary. At that share rely and worth, Flywire’s gross IPO proceeds stood at $250.6 million.
Renaissance Capital pegs the corporate’s absolutely diluted valuation at $2.8 billion. Utilizing a easy share rely, the corporate is value $2.40 billion at its IPO worth.
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The Flywire IPO is neat from a monetary perspective and notable in that it’s a Boston exit versus one more New York or San Francisco-based flotation. It’s good to see another cities put factors on the board.
However greater than that, this IPO is a helpful measuring stick for conserving tabs on the IPO market as a complete. This 12 months and the final are shaping as much as be key exit durations for startups and unicorns of all styles and sizes; many a enterprise capital fund return rests on these public debuts.