OPA - NerdWallet unveils IPO terms that could value popular personal-finance site at ~$1.2B

October, 27 2021 02:26 PM Magnum Opus Acquisition Limited Class A

NerdWallet (NRDS) has unveiled terms for a Nasdaq IPO that could value the personal-finance news-and-information platform at about $1.2B. NRDS wrote in a revised S-1 filed with securities regulators that that it plans to sell 7.25M Class A shares to the public for a projected $17 to $19 apiece. The company has also granted underwriters the option to buy as many as roughly 1.1M extra shares for overallotments. All in, NerdWallet (NRDS) expects to have about 33.1M Class A shares outstanding following the offering, while entities tied to co-founder and CEO Tim Chen will hold about 31.7M Class B shares. Class A shares will carry one vote each, while Class B stock will have 10 votes per share. That will give Chen a commanding 90.6% of the company’s voting power. Assuming both types of shares carry the same value, the IPO will value NerdWallet (NRDS) at about $1.1B to $1.3B

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NerdWallet unveils IPO terms that could value popular personal-finance site at ~$1.2B

Company Name:	Magnum Opus Acquisition Limited Class A
Stock Symbol:	OPA
Market:	NYSE

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