Cardlytics (CDLX) IPO Opens 7% Lower

Today's IPO for Cardlytics (NASDAQ: CDLX) opened for trading at $12.10 after pricing its initial public offering of 5,400,000 shares of common stock at a price to the public of $13.

In addition, Cardlytics has granted the underwriters a 30-day option to purchase up to an additional 810,000 shares of common stock.

BofA Merrill Lynch and J.P. Morgan are acting as joint book-running managers and representatives of the underwriters for the offering. Wells Fargo Securities and SunTrust Robinson Humphrey are also acting as book-runners for the offering. Raymond James and KeyBanc Capital Markets are acting as co-managers for the offering.

Cardlytics uses purchase intelligence to make marketing more relevant and measurable. We partner with more than 2,000 financial institutions to run their banking rewards programs that promote customer loyalty and deepen banking relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, Chicago and San Francisco.

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