It refiled the IPO in September, planning to offer 5.8 million shares at $12 to $14. The Jacksonville, Fla., company was expected to trade in August, offering 7.14 million shares at $16 to $19, but withdrew the deal, according to regulatory filings. The stock launched at $15 and closed at $15.29, up $2.29 from its IPO price. The offering is Cadre’s second attempt to list its shares. We have a long history of being disciplined,” said StClair.Ĭadre Holdings also opened for trading Thursday.
The company may also use some of its IPO proceeds to pay down its relatively small debt load of $30 million, she said. financial comparison site Know Your Money in a separate transaction. In 2020, NerdWallet acquired Fundera, an online platform that connects small businesses with loans. The company may also use the funds “for potential M&A where we think it would accelerate our organic strategy,” StClair said. NerdWallet plans to use proceeds from the IPO to build out its “organic experience,” she said. “We want to empower all users to have access to all education and to all the clarity in order to make decisions about all financial products,” StClair told Barron’s. Morgan Stanley, KeyBanc Capital Markets and BofA Securities are lead underwriters on the deal.įounded in 2009, NerdWallet says it provides unbiased guidance to consumers, as well as small- and medium-size businesses, to help them find the best credit cards, mortgages, insurance, loans, and financial advisors.Ībout 20 million users visited the NerdWallet site each month during the first three quarters of the year, said Chief Financial Officer Lauren StClair.
The New York company sold 7.25 million shares at $18 each, the middle of its $17 to $19 price range. The strong debut came after NerdWallet raised $130 million late Wednesday.