Flywire Announces Pricing of Initial Public Offering

Rhea-AI Summary

Flywire Corporation announced its initial public offering (IPO) pricing of 10,440,000 shares at $24.00 each. An additional 1,566,000 shares are available through underwriters. Trading on the Nasdaq under the ticker symbol 'FLYW' is set to commence on May 26, 2021, with the offering expected to close on May 28, 2021. Major financial institutions including Goldman Sachs and J.P. Morgan are leading the offering. This move marks Flywire's entry into the public market, leveraging its global payments network to enhance payment solutions for various sectors.

Positive

• Initial public offering priced at $24.00 per share, indicating strong initial market interest.
• Potential for substantial growth by entering the public market to fund expansion and technology development.

Negative

• The offering could lead to shareholder dilution if the underwriter's option for additional shares is exercised.

BOSTON, May 25, 2021 (GLOBE NEWSWIRE) -- Flywire Corporation (“Flywire”), a global payments enablement and software company, today announced the pricing of its initial public offering of 10,440,000 shares of its common stock at a price to the public of $24.00 per share. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1,566,000 shares of common stock, at the initial public offering price, less underwriting discounts and commissions.

The shares are expected to begin trading on the Nasdaq Global Select Market on May 26, 2021 under the ticker symbol “FLYW” and the offering is expected to close on May 28, 2021, subject to customary closing conditions.

Goldman Sachs & Co. LLC, J.P. Morgan, Citigroup and BofA Securities are acting as lead book-running managers for the offering. Raymond James, RBC Capital Markets and William Blair are acting as book-running managers for the offering. Guggenheim Securities, Nomura, AmeriVet Securities, Ramirez & Co., Inc., Siebert Williams Shank and Telsey Advisory Group are acting as co-managers for the offering.

The offering is being made only by means of a prospectus. Copies of the prospectus, when available, may be obtained from: Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com;  J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmorganchase.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 1-800-831-9146 or by email at prospectus@citi.com; or BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department or by email at dg.prospectus_requests@bofa.com.

A registration statement relating to the offering was declared effective by the Securities and Exchange Commission on May 25, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Flywire

Flywire is a global payments enablement and software company. Flywire combines its proprietary global payments network, next-gen payments platform and vertical-specific software to deliver the most important and complex payments for its clients and their customers.

Flywire leverages its vertical-specific software and payments technology to deeply embed within the existing A/R workflows for its clients across the education, healthcare and travel vertical markets, as well as in key B2B industries. Flywire also integrates with leading ERP systems, so organizations can optimize the payment experience for their customers while eliminating operational challenges.

Flywire supports 2,250+ clients with diverse payment methods in more than 130 currencies across 240 countries and territories around the world. The company is headquartered in Boston, MA, USA with global offices.

Contacts

Investor Relations Contact:

ICR
flywireir@icrinc.com

Media Contacts:

Sarah King
Sarah.King@Flywire.com 

Prosek Partners
pro-flywire@prosek.com 

 

FAQ

What is the current stock price of Flywire (FLYW)?

The initial public offering price for Flywire (FLYW) is set at $24.00 per share.

When will Flywire (FLYW) start trading on the stock market?

Flywire is expected to begin trading on the Nasdaq on May 26, 2021.

How many shares is Flywire offering in its IPO?

Flywire is offering 10,440,000 shares in its initial public offering.

Who are the lead underwriters for Flywire's IPO?

Goldman Sachs, J.P. Morgan, Citigroup, and BofA Securities are leading the underwriting for Flywire's IPO.

What does Flywire do?

Flywire is a global payments enablement and software company specializing in complex payment solutions across various sectors.