Benzinga | Apr 7, 2021 05:44AM EDT

Upstart Announced Follow-on 2M Share Offering

Upstart Holdings, Inc. (NASDAQ:UPST) announced a follow-on offering of 2,000,000 shares of its common stock, all of which are being offered by the company. In addition, Upstart has granted the underwriters a 30-day option to purchase up to an additional 300,000 shares of common stock.

Upstart intends to use the net proceeds from this offering for general corporate purposes.

Goldman Sachs & Co. LLC, BofA Securities and Citigroup are acting as lead book-running managers for this offering. Jefferies and Barclays are also acting as book-running managers. JMP Securities and Piper Sandler are acting as co-managers for this offering.