Financial software provider MeridianLink sets terms for $ 300 million IPO

MeridianLink, which provides cloud-based software solutions to financial institutions, announced the terms of its IPO on Monday.

The Costa Mesa, Calif., Based company plans to raise $ 300 million by offering 12 million shares (17% secondary) in a price range of $ 24 to $ 26. New investor Darlington Partners Capital Management has indicated up to $ 50 million in shares in the offer (17% of the deal). In the middle of the proposed range, MeridianLink would have a fully diluted market value of $ 2.1 billion.

MeridianLink is a leading provider of cloud-based software solutions for financial institutions, including banks, credit unions, mortgage lenders, specialist loan providers and consumer information agencies. The company serves 1,925 clients, including 63 of the top 100 credit unions through Credit Unions Online as of September 2020. MeridianLink supports the digital transformations of its clients with solutions that span almost every category of consumer lending, and it is strives to scale all of its solutions to a public cloud by the end of 2022.

MeridianLink was founded in 1998 and reported sales of $ 224 million for the 12 months ended March 31, 2021. It expects to be listed on the NYSE under the symbol MLNK. BofA Securities, Credit Suisse, Barclays, Citi and Raymond James are the associated bookkeepers in the transaction. Its price is expected during the week of July 26, 2021.

The article Financial software provider MeridianLink sets terms for $ 300 million IPO originally appeared on the renaissancecapital.com website of IPO investment manager Renaissance Capital.

Disclosure of investments: The information and opinions expressed in this document have been prepared by Renaissance Capital research analysts and do not constitute an offer to buy or sell any securities. Renaissance capital Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of the companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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