Goodwin Guides Card Issuer Marqeta To $1.2B Public Debut

Law360 (June 9, 2021, 8:36 PM EDT) -- Payment card issuer Marqeta saw a jump in share price Wednesday after raising over $1.2 billion in its Goodwin Procter LLP-led initial public offering.

Marqeta Inc. saw its shares pop from the $27 IPO price to open at around $32.50 on Wednesday. The California-headquartered company sold nearly 45.5 million shares in its public debut, which priced well above its expected range of $20 to $24 per share.

Marqeta could raise additional funds from the offering if the underwriters use a 30-day option to purchase an additional 6.8 million shares.

Marqeta offers a card-issuing platform that it says allows businesses to create...

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