Olo Announces Pricing of Initial Public Offering

Rhea-AI Summary

Olo has priced its initial public offering (IPO) at $25.00 per share for 18,000,000 shares. Trading is set to commence on the New York Stock Exchange on March 17, 2021, under the ticker symbol OLO. The IPO is expected to close on March 19, 2021, pending customary closing conditions. Goldman Sachs & Co. LLC and J.P. Morgan are the lead book-running managers, with additional support from RBC Capital Markets and others. The registration statement was declared effective on March 16, 2021.

Positive

• Offering of 18 million shares can raise significant capital for growth.
• Pricing at $25.00 per share may attract investor interest.

Negative

• Potential for shareholder dilution due to the large number of shares offered.
• Market volatility may affect stock performance post-IPO.

Olo Inc. (“Olo”) today announced the pricing of its initial public offering of its Class A common stock at a price of $25.00 per share. Olo is offering 18,000,000 shares of its Class A common stock. The shares are expected to begin trading on the New York Stock Exchange on March 17, 2021 under the symbol “OLO” and the offering is expected to close on March 19, 2021, subject to customary closing conditions.

Goldman Sachs & Co. LLC and J.P. Morgan are acting as lead book-running managers for the offering. RBC Capital Markets is acting as book-running manager for the offering, and Piper Sandler & Co., Stifel, Nicolaus & Company, Incorporated, Truist Securities, Inc., and William Blair & Company, L.L.C. are acting as co-managers for the offering.

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on March 16, 2021. Copies of the prospectus relating to this offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526 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; or RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281, by telephone at 1-877-822-4089, or by email at equityprospectus@rbccm.com.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210316006106/en/

FAQ

What is the price of Olo's IPO per share?

Olo's IPO is priced at $25.00 per share.

When is Olo expected to start trading on the NYSE?

Olo is expected to begin trading on the New York Stock Exchange on March 17, 2021.

How many shares is Olo offering in its IPO?

Olo is offering 18,000,000 shares in its IPO.

What is the ticker symbol for Olo?

The ticker symbol for Olo is OLO.

Who are the lead managers for Olo's IPO?

Goldman Sachs & Co. LLC and J.P. Morgan are the lead managers for Olo's IPO.

When is the closing date for Olo's IPO?

The offering is expected to close on March 19, 2021.