Skadden, Davis Polk Steer Fintech Affirm's $1.2B IPO

Law360 (January 13, 2021, 4:00 PM EST) -- Fintech startup Affirm, which bills itself as a flexible alternative to credit cards, saw shares soar Wednesday after pricing an above-range $1.2 billion initial public offering guided by Skadden and underwriters counsel Davis Polk.

San Francisco-based Affirm Holdings Inc. sold 24.6 million shares at $49 each, above its range of $41 to $44, which was upwardly revised from an earlier projection of $33 to $38. Affirm shares nearly doubled in late-afternoon Nasdaq trading, surpassing $97 under the symbol "AFRM."

Venture-backed Affirm joins a scorching IPO market with the year's first billion-dollar-plus offering, though more companies could follow suit. Mobile gamer Playtika...

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