Deals
Affirm Almost Doubles in Debut After $1.2 Billion IPO
- First-day surge pushes diluted value to almost $30 billion
- CEO Levchin sees Affirm as possibly expanding via acquisitions
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Affirm Holdings Inc. almost doubled in its public market debut, the latest multibillion-dollar technology company to start trading significantly higher than its initial public offering price.
Shares of the San Francisco-based company, which provides installment loans to online shoppers, closed up 98% to $97.24 in New York trading after rising as much as 110% earlier Wednesday. The company sold 24.6 million shares at $49 each in Tuesday’s IPO to raise $1.2 billion, pricing the stock above a range that had already been increased.