EverQuote (EVER) IPO Opens 14% Higher
Get Alerts EVER Hot Sheet
Overall Analyst Rating:
NEUTRAL ( Up)
Dividend Yield: 1.2%
Revenue Growth %: -26.6%
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Today's IPO for EverQuote (NYSE: EVER) opened for trading at $20.59 after pricing 4,687,500 shares of its Class A common stock at a public offering price of $18 per share, before underwriting discounts and commissions.
EverQuote is offering 3,125,000 shares of Class A common stock and selling stockholders are offering 1,562,500 shares of Class A common stock.
In addition, EverQuote has granted the underwriters a 30-day option to purchase up to 703,125 additional shares of Class A common stock from EverQuote at the public offering price, less underwriting discounts and commissions.
The offering is expected to close on July 2, 2018, subject to customary closing conditions.
J.P. Morgan and BofA Merrill Lynch are acting as lead book-running managers for the offering. Canaccord Genuity, JMP Securities, Needham & Company, Oppenheimer & Co., Raymond James and William Blair are acting as co-managers for the offering.
EverQuote operates a leading online insurance marketplace in the U.S., connecting consumers with insurance providers. The company's data & technology platform matches and connects consumers seeking to purchase insurance with relevant options from the company's broad direct network of insurance providers, saving consumers and providers time and money. EverQuote was founded with the vision of applying a scientific, data-driven approach to help consumers find the best price and coverage for their individual insurance needs
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