On Deck Capital, Inc. (NYSE: ONDK), a NYC-based online platform for small business lending, closed its initial public offering.
The closing included an additional 1,500,000 shares sold to the underwriters pursuant to the full exercise of their over-allotment option. The total number of shares sold was 11,500,000 and the total gross proceeds of the offering were $230 million.
OnDeck’s common stock began trading on the New York Stock Exchange under the symbol “ONDK” on December 17, 2014.
Morgan Stanley & Co. LLC and BofA Merrill Lynch acted 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 acted as book-running managers for the offering. Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated and Needham & Company, LLC acted as co-managers for the offering.