Chime chases $11 billion valuation in IPO set for next week on Nasdaq
Chime Financial began on Monday by displaying the road due to the expected public subscription that can estimate Neobank by about $ 11 billion, a decrease of more than 50 % of its evaluation of $ 25 billion in 2021. It is scheduled to begin harmony in trading on the Nasdaq Stock Exchange on Thursday 12 June.
The imminent public subscription will offer 32 million shares at a price ranging between 24 and 26 dollars each, according to an organizational report on June 2. (About 26 million coming from the CHIME itself while the shareholders offer an additional 6 million.
In 2021, Chime was one of the most highly tiny basins when it reached $ 25 billion, but the evaluation of Fintech companies, along with adventure financing, has decreased since then. On an undilisory basis, harmony aims a market value of $ 9.47 billion. But when Chime includes elements such as stock options and restricted stock units, or RSU, their evaluation jumps to about $ 11 billion on a completely diluted basis. Fourteen banks are listed as a public subscription with Morgan Stanley, Goldman Sachs and Jpmorgan as driving companies in the deal.
The Chime show comes at a time when the public subscription market, which has crawled since 2021, is at a state of rise. The Circle Internet Group group, which is later on this week, increased the size and price of the price on Monday. Circle is now looking to sell 32 million shares at 27 to 28 dollars each, an increase of 24 million dollars for $ 24 to 26 dollars each. Circle, which can be raised up to $ 896 million, is targeting $ 7.2 billion.
When the company increases the size of its offers and raises its price range, this usually indicates a strong investor request. It is said that the public subscription in Serkel has been returned, and the company is scheduled to make the deal on Wednesday and trade on Thursday.
The first investors are scheduled to invest
CHIME was established in 2012, and provides traditional financial services, such as fee -free audit accounts and savings accounts, for low -income American consumers who earn up to $ 100,000 a year. The startup has had 8.6 million active members as of March 31, as two -thirds of them depend on harmony as a basic bank, according to an organizational report. Nearly 70 % of its members use resonance to buy food, grocery, gas and facilities. As of March 31, the startup used 1,465 workers, or “Barada”, spread through three offices, including a third in San Francisco.
Chime, founder and CEO of Chime, owns the largest stake in Fintech and will receive 39 % of the total voting power after the completion of the public subscription, according to the SEC report. Ryan King, founder and founder, will get about 35.5 % of the voting authority. He does not sell stocks.
DST Global investors, who led the CHIME tour of $ 200 million in 2019, will have 5.4 % of the voting power after completing the offer, while Crosslink Capital will own 3 % and will have General Atlantic 2 %. It also does not sell stocks.
Among the sellers, VC Cathay Innovation, which empties the largest part of the shares, 3.75 million shares, and will receive a 1.2 % voting share after the public subscription. Cathai can make $ 97.5 million. The organizational deposit also lists Jay McGaru, TV producer, the son of Dr. Phil McGaru or “D. Phil”. McGraw 350,000 shares and $ 26 sells, and can earn $ 9.1 million. McGaru cannot be accessed immediately for comment.
This story was originally shown on Fortune.com
Don’t miss more hot News like this! Click here to discover the latest in Business news!
2025-06-02 15:59:00
