7 Things to Know About the Upcoming $1.2 Billion NerdWallet (NRDS) IPO
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NerdWallet (NASDAQ: NRDS) is set to launch its U.S. IPO next week. The IPO will be available on the RobinHood IPO Access platform as well as other brokerages. NerdWallet empowers both individual consumers and small and mid-sized businesses (SMBs) to make smarter financial decisions, delivering guidance to consumers via educational content, tools and calculators, product marketplaces and the NerdWallet app. Below are 7 important facts to focus on into the IPO:
1. NerdWallet IPO Timing: NERDWALLET, INC. is expected to have its IPO on the NASDAQ on Nov 4, 2021. The stock ticker is 'NRDS'. Normally IPOs on the NASDAQ began trading between 10AM-2PM ET.
2. NerdWallet IPO Price: The company anticipates the initial public offering price to be between $17.00 and $19.00.
3. Shares Offered: The company is offering 7,250,000 Shares of its Class A Common Stock, granting the underwriters an option to purchase up to an additional 1,087,500 shares of Class A common stock. There will be 64,747,341 shares (Class A common stock and Class B common stock) outstanding after this offering.
4. NerdWallet IPO Valuation: A pricing at the midpoint of the range would value the company at around $1.2 billion.
5. IPO Underwriters: Morgan Stanley, BofA Securities, Barclays, Citigroup, KeyBanc Capital Markets, Truist Securities, William Blair, and Oppenheimer & Co are acting as the underwriters for the offering.
6. Important NerdWallet Financials: Revenue increased to $280.1 million for the nine months ended September 30, 2021 compared to $188.6 million for the nine months ended September 30, 2020. Credit cards revenue increased to $88.9 million for the nine months ended September 30, 2021 from $61.5 million for the nine months ended September 30, 2020, primarily driven by increased activity amid recovery from the economic impacts of the COVID-19 pandemic and higher pricing with our financial services partners. Loans revenue increased to $96.8 million for the nine months ended September 30, 2021 from $61.1 million for the nine months ended September 30, 2020, primarily driven by increases of 68% in home mortgages revenue and 84% in personal loans revenue, both reflecting higher consumer demand for loans in the sustained low interest rate environment.
7. NerdWallet Total Addressable Market (TAM): The company’s current and primary addressable market opportunity is U.S. financial services digital advertising spend, which is expected to be more than $23 billion in 2021, according to eMarketer.
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Related EntitiesWilliam Blair, Citi, KeyBanc, Morgan Stanley, Barclays, IPO
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