Elevate Credit (ELVT) IPO Opens Modestly Higher

Today's IPO for Elevate Credit (NYSE: ELVT) opened for trading at $7 after pricing 12,400,000 shares of common stock at a price to the public of $6.50 per share.

UBS Securities LLC, Credit Suisse Securities (USA) LLC, and Jefferies LLC are acting as joint book-running managers and as representatives of the underwriters for the offering. Stifel, Nicolaus & Company, Incorporated and William Blair & Company L.L.C. are also acting as joint book-running managers for the offering.

Elevate (NYSE: ELVT) has originated $4 billion in nonprime credit to more than 1.6 million consumers to date. Its innovative online credit solutions provide immediate relief to customers today and help them build a brighter financial future. The Company is committed to rewarding borrowers’ good financial behavior with features like interest rates that can go down over time, free financial training and free credit monitoring. Elevate’s suite of credit products includes RISE, Sunny and Elastic.

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