MeridianLink Announces IPO Pricing


MeridianLink is the newest mortgage technology company set to go public. the terms of his IPO launch next week.

The provider of cloud-based lending and decision-making software will issue 12 million common shares, of which 10 million will be owned by the company itself and 2 million will be sold by existing shareholders. He also provides his underwriters with a 30-day option to buy an additional 1.8 million shares. The company first announced its proposed IPO on April 30.

According to S-1 document of the Securities and Exchange Commission, the expected price range of the shares should fall between $ 24 and $ 26 per share when they start trading at some point next week. If stock prices stay in this range, it could raise $ 331.2 million to $ 358.8 million.

The headquarters of MeridianLink, headquartered in Costa Mesa, California, in 2020 showed revenue growth of 30.5% per year, reaching $ 199.3 million from $ 152.7 million. There was also a jump in net profit, which rose to $ 9.2 million from $ -12.6 million in 2019.

MeridianLink has had a busy year so far, acquiring additional assets in January from TazWorks, a platform that specializes in consumer reporting and background checking. Terms of the deal were not disclosed.

Back in 2017, co-founder and former CEO of MeridianLink Binh Dang. tried to dissolve the company after ongoing legal battles with other executives. He has filed a petition with the California Supreme Court, arguing that it is in the company’s best interest to voluntarily wind up operations.

MeridianLink plans to be listed on the New York Stock Exchange under the ticker MLNK.

BofA Securities, Credit Suisse, and Barclays are the lead accounting managers. Citigroup Global Markets and Raymond James & Associates will be accounting managers and BTIG, Wolfe Nomura Strategic Alliance, Stifel, Nicolaus & Company, William Blair, Blaylock Van, Roberts & Ryan Investments, Samuel A. Ramirez & Company and Tigress Financial Partners are co-managers of the proposed proposal.

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