Flywire Corporation Closes IPO and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Flywire Corporation has successfully closed its initial public offering (IPO) of 12,006,000 shares at $24.00 per share, with a total of $263.7 million in net proceeds after expenses. This follows the shares' debut on the Nasdaq Global Select Market under the ticker symbol FLYW on May 26, 2021. Major underwriters involved include Goldman Sachs, J.P. Morgan, Citigroup, and BofA Securities, among others. The offering was conducted under a registration statement filed with the SEC and does not constitute an offer to sell the securities in jurisdictions where unlawful.

Positive

• Successful IPO closing, raising approximately $263.7 million in net proceeds.
• Strong underwriter support from leading financial institutions.

Negative

• None.

BOSTON, May 28, 2021 (GLOBE NEWSWIRE) -- Flywire Corporation (“Flywire”), a global payments enablement and software company, today announced the closing of its initial public offering of 12,006,000 shares of its common stock at a price to the public of $24.00 per share, including the full exercise by the underwriters of their option to purchase up to an additional 1,566,000 shares of common stock.

Flywire estimates its net proceeds from the offering to be approximately $263.7 million, after deducting underwriting discounts and commissions and estimated offering expenses. The shares began trading on the Nasdaq Global Select Market on May 26, 2021, under the ticker symbol “FLYW.”

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

The offering was made only by means of a prospectus. Copies of the prospectus 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 sale of these securities has been filed, and declared effective, with the Securities and Exchange Commission. 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 was the share price for Flywire's initial public offering?

Flywire's initial public offering was priced at $24.00 per share.

How much capital did Flywire raise from its IPO?

Flywire raised approximately $263.7 million in net proceeds from its IPO.

When did Flywire begin trading on the Nasdaq?

Flywire began trading on the Nasdaq Global Select Market on May 26, 2021.

Who were the underwriters for Flywire's IPO?

The underwriters included Goldman Sachs, J.P. Morgan, Citigroup, and BofA Securities.

What is Flywire's stock symbol?

Flywire's stock symbol is FLYW.