OnDeck Raises $200M in Initial Public Offering

New York-based online platform for small business lending OnDeck raised $200m in its Initial Public Offering.

The company priced 10 million shares at $20 per share. It trades on the NYSE under ticker symbol ONDK.

OnDeck had been backed by RRE Ventures, Institutional Venture Partners, Village Ventures, SAP Ventures, First Round Capital, Google Ventures and Tiger Global.

The Press Release
On Deck Capital, Inc. (NYSE: ONDK), a leading online platform for small business lending, today announced that it has priced its initial public offering of 10,000,000 shares of its common stock at a price to the public of $20.00 per share. The shares are expected to begin trading on The New York Stock Exchange on December 17, 2014 under the ticker symbol “ONDK.” The closing of the offering is expected to occur on December 22, 2014, subject to customary closing conditions.

All of the shares are being offered by OnDeck. In addition, OnDeck has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares to cover over-allotments, if any.

Morgan Stanley & Co. LLC and BofA Merrill Lynch are acting as joint lead book-running managers and as representatives of the underwriters for the offering. J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and Jefferies LLC are acting as book-running managers for the offering. Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated and Needham & Company, LLC are acting as co-managers for the offering.

The offering is being made only by means of a prospectus. A final prospectus for the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, email: prospectus@morganstanley.com; or from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department, email: dg.prospectus_requests@baml.com.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission and can be accessed through the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.

FinSMEs

17/12/2014

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